PTC Inc (NASDAQ:PTC) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 5,694,200 shares, a drop of 8.7% from the July 31st total of 6,235,200 shares. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 4.4 days. Currently, 5.5% of the company’s shares are short sold.
Shares of NASDAQ PTC traded up $0.15 during mid-day trading on Friday, hitting $66.55. The company had a trading volume of 809,000 shares, compared to its average volume of 1,204,359. The company has a market capitalization of $7.72 billion, a PE ratio of 73.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.25 and a quick ratio of 1.25. PTC has a 1-year low of $62.05 and a 1-year high of $107.44. The business’s 50-day simple moving average is $67.20 and its 200 day simple moving average is $84.59.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.18. PTC had a return on equity of 10.44% and a net margin of 2.63%. The company had revenue of $322.40 million for the quarter, compared to analysts’ expectations of $322.42 million. During the same period last year, the firm earned $0.36 earnings per share. PTC’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that PTC will post 1.09 EPS for the current year.
Several research analysts have recently commented on the company. Evercore ISI set a $104.00 price target on PTC and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Guggenheim lowered PTC from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Griffin Securities lowered PTC from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Wedbush lowered their price target on PTC from $90.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered PTC from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $110.00 to $85.00 in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.13.
In other news, EVP Matthew Lessner Cohen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now directly owns 25,672 shares in the company, valued at $2,310,480. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Corinna Lathan sold 843 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $64.48, for a total value of $54,356.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,793 shares of company stock valued at $1,586,532. Company insiders own 9.91% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new stake in shares of PTC during the second quarter worth about $328,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of PTC during the first quarter worth about $5,897,000. State of New Jersey Common Pension Fund D increased its position in shares of PTC by 4.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 430,000 shares of the technology company’s stock worth $38,597,000 after purchasing an additional 20,000 shares in the last quarter. Cleararc Capital Inc. acquired a new stake in shares of PTC during the first quarter worth about $252,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of PTC by 44.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 7,307 shares of the technology company’s stock worth $656,000 after purchasing an additional 2,261 shares in the last quarter. Institutional investors own 91.75% of the company’s stock.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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