Man Group plc Purchases 23,154 Shares of PTC Inc. (NASDAQ:PTC)

Man Group plc lifted its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 306.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,714 shares of the technology company's stock after acquiring an additional 23,154 shares during the quarter. Man Group plc's holdings in PTC were worth $5,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Park Avenue Securities LLC boosted its position in shares of PTC by 29.3% during the fourth quarter. Park Avenue Securities LLC now owns 1,975 shares of the technology company's stock valued at $363,000 after buying an additional 448 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of PTC by 9.8% during the 4th quarter. HB Wealth Management LLC now owns 2,165 shares of the technology company's stock valued at $398,000 after purchasing an additional 194 shares during the period. Diversify Wealth Management LLC raised its stake in shares of PTC by 40.9% during the 4th quarter. Diversify Wealth Management LLC now owns 4,606 shares of the technology company's stock valued at $840,000 after purchasing an additional 1,337 shares during the period. Simon Quick Advisors LLC raised its stake in shares of PTC by 8.2% during the 4th quarter. Simon Quick Advisors LLC now owns 1,494 shares of the technology company's stock valued at $275,000 after purchasing an additional 113 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in PTC by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 24,972 shares of the technology company's stock worth $4,592,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTC. Oppenheimer cut their price objective on PTC from $210.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Robert W. Baird increased their target price on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, KeyCorp cut their target price on PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $187.15.

PTC Price Performance

Shares of PTC stock traded down $1.60 during mid-day trading on Friday, hitting $168.77. 692,218 shares of the stock were exchanged, compared to its average volume of 877,680. The firm has a fifty day moving average of $156.00 and a 200 day moving average of $173.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a market cap of $20.24 billion, a PE ratio of 52.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Research analysts anticipate that PTC Inc. will post 4.46 earnings per share 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.