Praxis Investment Management Inc. Purchases 1,520 Shares of PTC Inc. (NASDAQ:PTC)

Praxis Investment Management Inc. grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 58.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,100 shares of the technology company's stock after acquiring an additional 1,520 shares during the quarter. Praxis Investment Management Inc.'s holdings in PTC were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PTC. Aster Capital Management DIFC Ltd bought a new position in PTC during the fourth quarter valued at about $30,000. Allworth Financial LP grew its holdings in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares in the last quarter. UMB Bank n.a. increased its position in shares of 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 period. Pinney & Scofield Inc. acquired a new position in shares of PTC in the fourth quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of PTC in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's 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 completion of the sale, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

PTC Price Performance

Shares of PTC traded down $1.33 on Wednesday, hitting $168.60. The company's stock had a trading volume of 664,591 shares, compared to its average volume of 887,943. The company has a market capitalization of $20.22 billion, a PE ratio of 46.32, a PEG ratio of 2.32 and a beta of 1.18. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The company has a 50 day moving average price of $163.58 and a 200 day moving average price of $169.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

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 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 return on equity of 15.35% and a net margin of 18.77%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. On average, research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PTC. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Piper Sandler decreased their target price 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. Barclays dropped their price target on shares of PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, BMO Capital Markets upped their price objective on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $188.69.

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.