Arcus Capital Partners LLC Takes $762,000 Position in PTC Inc. (NASDAQ:PTC)

Arcus Capital Partners LLC purchased a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,917 shares of the technology company's stock, valued at approximately $762,000.

A number of other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in shares of PTC by 16.5% during the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock valued at $517,000 after acquiring an additional 473 shares in the last quarter. Mather Group LLC. raised its stake in shares of PTC by 18.3% during the first quarter. Mather Group LLC. now owns 845 shares of the technology company's stock valued at $131,000 after acquiring an additional 131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of PTC by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock valued at $2,091,000 after acquiring an additional 2,285 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of PTC during the fourth quarter valued at approximately $8,858,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of PTC during the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTC. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price target on shares of PTC in a research note on Thursday, May 1st. KeyCorp reissued an "overweight" rating and issued a $192.00 price objective (up previously from $185.00) on shares of PTC in a research note on Monday. Piper Sandler dropped their price objective on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Robert W. Baird boosted their price objective on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets boosted their price objective on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PTC presently has a consensus rating of "Hold" and an average price target of $189.23.

PTC Trading Down 7.8%

Shares of PTC stock traded down $16.36 during trading hours on Thursday, hitting $194.11. The company's stock had a trading volume of 1,796,566 shares, compared to its average volume of 909,873. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $213.14. The company has a market capitalization of $23.28 billion, a PE ratio of 52.92, a P/E/G ratio of 2.46 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $169.82 and a 200 day moving average of $168.00.

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

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC 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 sale, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company's stock.

PTC Company Profile

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.

Want to see what other hedge funds are holding PTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Inc. (NASDAQ:PTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.