Today: Today: Hennessy Advisors Inc. Takes Position in PTC Inc. (PTC)

Today: Hennessy Advisors Inc. Takes Position in PTC Inc. (PTC)

Hennessy Advisors Inc. purchased a new position in PTC Inc. (NASDAQ:PTC) during the third quarter, Holdings Channel reports. The firm purchased 788,500 shares of the company’s stock, valued at approximately $34,938,000. PTC makes up about 1.0% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 24th largest position.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in shares of PTC by 3,567.2% in the second quarter. BNP Paribas Arbitrage SA now owns 45,290 shares of the company’s stock worth $1,702,000 after buying an additional 44,055 shares during the last quarter. Capital Investment Services of America Inc. boosted its stake in PTC by 19.1% in the third quarter. Capital Investment Services of America Inc. now owns 303,475 shares of the company’s stock worth $13,447,000 after buying an additional 48,603 shares in the last quarter. UBS Group AG boosted its stake in PTC by 67.6% in the first quarter. UBS Group AG now owns 19,706 shares of the company’s stock worth $653,000 after buying an additional 7,948 shares in the last quarter. Chartwell Investment Partners LLC boosted its stake in PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock worth $19,487,000 after buying an additional 356,710 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in PTC by 7.3% in the first quarter. Royal Bank of Canada now owns 618,878 shares of the company’s stock worth $20,521,000 after buying an additional 42,200 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Shares of PTC Inc. (NASDAQ:PTC) traded down 0.42% during mid-day trading on Monday, reaching $49.58. 394,117 shares of the company traded hands. The company’s 50 day moving average is $46.42 and its 200 day moving average is $41.58. The stock’s market capitalization is $5.73 billion. PTC Inc. has a 52-week low of $27.06 and a 52-week high of $49.93.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.10. The business earned $288.20 million during 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 company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, equities analysts forecast that PTC Inc. will post $1.33 earnings per share for the current year.

A number of equities research analysts recently issued reports on the stock. Brean Capital reissued a “buy” rating and issued a $55.00 price target on shares of PTC in a research note on Thursday, October 27th. Barclays PLC reaffirmed a “buy” rating and set a $59.00 target price on shares of PTC in a research note on Wednesday, November 9th. Royal Bank Of Canada lifted their target price on shares of PTC from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 9th. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $53.00) on shares of PTC in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $49.93.

In other PTC news, VP Staats Aaron C. Von sold 13,588 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $47.46, for a total value of $644,886.48. Following the sale, the vice president now owns 61,443 shares of the company’s stock, valued at $2,916,084.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $51,142.72. Following the completion of the sale, the director now directly owns 60,035 shares in the company, valued at approximately $2,702,775.70. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

About PTC

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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