Archford Capital Strategies LLC Buys 3,381 Shares of PTC Inc. (NASDAQ:PTC)

Archford Capital Strategies LLC lifted its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 167.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,405 shares of the technology company's stock after buying an additional 3,381 shares during the period. Archford Capital Strategies LLC's holdings in PTC were worth $838,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PTC. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Stifel Nicolaus reduced their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler decreased their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Robert W. Baird increased their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets lifted their price objective on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PTC has an average rating of "Hold" and an average target price of $188.69.

PTC Stock Performance

NASDAQ PTC traded down $0.24 during trading on Friday, hitting $169.30. The company's stock had a trading volume of 2,037,878 shares, compared to its average volume of 894,093. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The firm has a market cap of $20.31 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 2.32 and a beta of 1.18. The firm has a 50 day moving average price of $164.60 and a 200 day moving average price of $169.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. PTC's revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president now directly owns 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.