MQS Management LLC Invests $608,000 in PTC Inc. (NASDAQ:PTC)

MQS Management LLC acquired a new stake in PTC Inc. (NASDAQ:PTC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,921 shares of the technology company's stock, valued at approximately $608,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in PTC by 16.5% in the 1st quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock worth $517,000 after buying an additional 473 shares during the period. Mather Group LLC. increased its holdings in PTC by 18.3% in the 1st quarter. Mather Group LLC. now owns 845 shares of the technology company's stock worth $131,000 after buying an additional 131 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in PTC by 20.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock worth $2,091,000 after buying an additional 2,285 shares during the period. Proficio Capital Partners LLC acquired a new position in PTC in the 4th quarter worth approximately $8,858,000. Finally, Avantax Advisory Services Inc. acquired a new position in PTC in the 4th quarter worth approximately $223,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Price Performance

PTC stock traded down $1.08 during midday trading on Friday, reaching $193.51. The stock had a trading volume of 2,369,965 shares, compared to its average volume of 930,740. The company's fifty day simple moving average is $171.26 and its 200 day simple moving average is $167.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 53.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.17. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14.

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, beating analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. As a group, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Thursday, May 1st. Stifel Nicolaus dropped their price objective 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. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. 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 research note on Thursday, May 1st. Finally, Oppenheimer reaffirmed a "cautious" rating on shares of PTC in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $189.23.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president owned 17,731 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.32% of the company's stock.

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.