24,354 Shares in PTC Inc. (NASDAQ:PTC) Acquired by Twinbeech Capital LP

Twinbeech Capital LP purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,354 shares of the technology company's stock, valued at approximately $4,478,000.

A number of other hedge funds have also modified their holdings of PTC. T. Rowe Price Investment Management Inc. boosted its stake in PTC by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after buying an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after acquiring an additional 240,080 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after acquiring an additional 67,504 shares during the period. Fernbridge Capital Management LP boosted its position in shares of PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock valued at $278,484,000 after acquiring an additional 85,564 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of PTC by 11.0% in the fourth quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock valued at $241,472,000 after purchasing an additional 129,910 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the subject of a number of recent analyst reports. Piper Sandler cut their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Citigroup cut their price objective on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Stifel Nicolaus decreased their target price on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho lowered their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $187.15.

Insider Buying and Selling at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president now directly owns 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

PTC Stock Down 0.9%

NASDAQ:PTC traded down $1.60 during mid-day trading on Monday, hitting $168.77. The stock had a trading volume of 692,218 shares, compared to its average volume of 878,994. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09. The company has a market capitalization of $20.24 billion, a PE ratio of 52.09, a PEG ratio of 2.27 and a beta of 1.19. The stock has a 50-day simple moving average of $156.00 and a two-hundred day simple moving average of $173.27.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the prior year, the firm earned $1.46 EPS. PTC's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

About PTC

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.