Arcus Capital Partners LLC Makes New Investment in PTC Inc. (NASDAQ:PTC)

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

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in PTC by 1,140.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock worth $84,000 after purchasing an additional 422 shares during the last quarter. Assetmark Inc. boosted its holdings in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after purchasing an additional 297 shares during the last quarter. Atria Investments Inc boosted its holdings in PTC by 10.5% during the fourth quarter. Atria Investments Inc now owns 2,714 shares of the technology company's stock worth $499,000 after purchasing an additional 259 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in PTC during the fourth quarter worth about $8,858,000. Finally, PNC Financial Services Group Inc. boosted its holdings in PTC by 6.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company's stock worth $1,802,000 after purchasing an additional 559 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Price Performance

NASDAQ:PTC traded down $1.08 during mid-day trading on Friday, hitting $193.51. 2,369,965 shares of the stock traded hands, compared to its average volume of 930,740. The business's 50-day moving average price is $171.26 and its 200 day moving average price is $168.11. The company has a market cap of $23.21 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.17. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $213.14. 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 issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC 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 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 owned 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PTC shares. Mizuho lowered their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler lowered their price objective on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. BMO Capital Markets lifted their price objective on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, PTC currently has a consensus rating of "Hold" and a consensus target price of $189.23.

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.