Stifel Financial Corp Acquires 1,807 Shares of PTC Inc. (PTC)

Stifel Financial Corp raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,925 shares of the technology company’s stock after purchasing an additional 1,807 shares during the quarter. Stifel Financial Corp’s holdings in PTC were worth $2,972,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PTC. Asset Management One Co. Ltd. bought a new stake in PTC during the 1st quarter valued at $189,000. Credit Agricole S A bought a new stake in PTC during the 1st quarter valued at $596,000. United Services Automobile Association increased its stake in PTC by 18.7% during the 1st quarter. United Services Automobile Association now owns 40,800 shares of the technology company’s stock valued at $2,144,000 after purchasing an additional 6,424 shares in the last quarter. Teachers Advisors LLC increased its stake in PTC by 1.9% during the 1st quarter. Teachers Advisors LLC now owns 377,156 shares of the technology company’s stock valued at $19,820,000 after purchasing an additional 7,178 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in PTC by 118.0% during the 1st quarter. Legal & General Group Plc now owns 77,290 shares of the technology company’s stock valued at $4,061,000 after purchasing an additional 41,843 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The firm had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue was up .8% on a year-over-year basis.

PTC announced that its board has initiated a share buyback plan on Tuesday, September 19th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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A number of analysts have commented on the stock. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a research note on Friday, October 6th. Berenberg Bank assumed coverage on shares of PTC in a research note on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target for the company. Barclays PLC restated an “overweight” rating and set a $65.00 price target (down previously from $67.00) on shares of PTC in a research note on Saturday, July 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of PTC in a research note on Monday, September 4th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.31.

In related news, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the sale, the executive vice president now directly owns 79,729 shares in the company, valued at approximately $4,358,784.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the sale, the executive vice president now owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The disclosure for this sale can be found here. Insiders have sold 65,329 shares of company stock valued at $3,588,097 over the last 90 days. Corporate insiders own 1.11% of the company’s stock.

PTC Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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