PTC Inc (NASDAQ:PTC) Short Interest Up 20.3% in May

PTC Inc (NASDAQ:PTC) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 6,977,100 shares, a growth of 20.3% from the April 30th total of 5,801,800 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 6.3 days. Currently, 6.5% of the company’s shares are sold short.

In related news, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 16,050 shares of company stock worth $1,430,916 over the last ninety days. Corporate insiders own 9.91% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan acquired a new position in PTC in the fourth quarter worth about $2,113,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in PTC in the first quarter worth about $5,897,000. Cleararc Capital Inc. acquired a new position in PTC in the first quarter worth about $252,000. Norges Bank acquired a new position in PTC in the fourth quarter worth about $197,240,000. Finally, American Century Companies Inc. grew its stake in PTC by 49.3% in the fourth quarter. American Century Companies Inc. now owns 942,970 shares of the technology company’s stock worth $78,172,000 after purchasing an additional 311,508 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

PTC has been the subject of several recent research reports. Evercore ISI reiterated a “hold” rating and issued a $70.00 price target on shares of Akamai Technologies in a report on Thursday, June 13th. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a report on Thursday, April 11th. KeyCorp increased their price target on Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. ValuEngine downgraded China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Finally, BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $102.71.

Shares of PTC stock traded up $0.89 during trading hours on Friday, hitting $91.07. 693,160 shares of the company’s stock traded hands, compared to its average volume of 863,468. The stock has a market cap of $10.37 billion, a P/E ratio of 101.19, a PEG ratio of 2.66 and a beta of 1.19. PTC has a twelve month low of $76.67 and a twelve month high of $107.44. The stock has a 50 day moving average of $87.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.32.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. The business had revenue of $315.50 million during the quarter, compared to the consensus estimate of $312.29 million. PTC had a return on equity of 11.68% and a net margin of 3.06%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that PTC will post 1.05 EPS for the current fiscal year.

PTC Company Profile

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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