Trading Report: The Shell Asset Management Co. Acquires New Stake in PTC Inc. (PTC)

The Shell Asset Management Co. Acquires New Stake in PTC Inc. (PTC)

Shell Asset Management Co. purchased a new position in shares of PTC Inc. (NASDAQ:PTC) during the third quarter, Holdings Channel reports. The fund purchased 12,833 shares of the company’s stock, valued at approximately $569,000.

Several other large investors have also recently bought and sold shares of PTC. Tower Research Capital LLC TRC increased its position in shares of PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock worth $114,000 after buying an additional 2,098 shares during the period. Meeder Asset Management Inc. bought a new position in shares of PTC during the third quarter worth $114,000. US Bancorp DE increased its position in shares of PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock worth $136,000 after buying an additional 65 shares during the period. Bessemer Group Inc. increased its position in shares of PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock worth $140,000 after buying an additional 1,868 shares during the period. Finally, World Asset Management Inc bought a new position in shares of PTC during the second quarter worth $210,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

PTC Inc. (NASDAQ:PTC) opened at 46.89 on Friday. The stock’s market capitalization is $5.39 billion. The company’s 50-day moving average is $44.83 and its 200 day moving average is $39.96. PTC Inc. has a 1-year low of $27.06 and a 1-year high of $47.50.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, October 26th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.10. The company had revenue of $288.20 million for the quarter, compared to analysts’ expectations of $297.91 million. PTC had a positive return on equity of 10.56% and a negative net margin of 4.92%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. Equities analysts predict that PTC Inc. will post $1.28 earnings per share for the current year.

Several research analysts have weighed in on PTC shares. Wedbush increased their price target on shares of PTC from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research upgraded shares of PTC from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. Brean Capital started coverage on shares of PTC in a research report on Friday, October 7th. They issued a “buy” rating on the stock. Citigroup Inc. started coverage on shares of PTC in a research report on Monday, August 1st. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Evercore ISI started coverage on shares of PTC in a research report on Wednesday, September 14th. They set a “buy” rating and a $50.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. PTC currently has an average rating of “Buy” and a consensus target price of $44.67.

In other news, Director Donald K. Grierson sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $39.41, for a total value of $197,050.00. Following the sale, the director now directly owns 74,829 shares of the company’s stock, valued at approximately $2,949,010.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Schechter sold 1,136 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $45.02, for a total transaction of $51,142.72. Following the completion of the sale, the director now directly owns 60,035 shares in the company, valued at $2,702,775.70. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

PTC Company Profile

PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.

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