Forum Financial Management LP Purchases New Holdings in PTC Inc. (NASDAQ:PTC)

Forum Financial Management LP acquired a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,279 shares of the technology company's stock, valued at approximately $353,000.

A number of other hedge funds have also modified their holdings of PTC. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of PTC in the 1st quarter valued at about $26,000. Aster Capital Management DIFC Ltd bought a new position in shares of PTC in the fourth quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in PTC by 153.4% during the first quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after purchasing an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in PTC during the fourth quarter valued at approximately $47,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of PTC in the 4th quarter valued at approximately $51,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction 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 directly owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. KeyCorp restated an "overweight" rating and set a $192.00 price target (up previously from $185.00) on shares of PTC in a research note on Monday, July 7th. Stifel Nicolaus lowered their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Piper Sandler decreased their price target 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. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price target (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, Mizuho reduced their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, PTC has an average rating of "Moderate Buy" and an average target price of $192.92.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $2.61 on Friday, hitting $199.61. The company had a trading volume of 880,146 shares, compared to its average volume of 936,051. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $213.14. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 54.84, a P/E/G ratio of 2.72 and a beta of 1.17. The stock has a 50 day moving average price of $174.56 and a 200 day moving average price of $168.34. The company has a current ratio of 0.99, a quick 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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $608.64 million. During the same quarter last year, the business earned $1.46 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that PTC Inc. will post 4.46 EPS for the current year.

PTC 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.