Voloridge Investment Management LLC Takes $14.97 Million Position in PTC Inc. (NASDAQ:PTC)

Voloridge Investment Management LLC purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 81,389 shares of the technology company's stock, valued at approximately $14,965,000. Voloridge Investment Management LLC owned about 0.07% of PTC at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTC. Park Avenue Securities LLC grew 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 worth $363,000 after acquiring an additional 448 shares during the last quarter. HB Wealth Management LLC lifted its holdings in PTC by 9.8% in the fourth quarter. HB Wealth Management LLC now owns 2,165 shares of the technology company's stock worth $398,000 after purchasing an additional 194 shares during the period. Simon Quick Advisors LLC lifted its holdings in PTC by 8.2% in the fourth quarter. Simon Quick Advisors LLC now owns 1,494 shares of the technology company's stock worth $275,000 after purchasing an additional 113 shares during the period. Nisa Investment Advisors LLC lifted its holdings in PTC by 1.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,972 shares of the technology company's stock worth $4,592,000 after purchasing an additional 285 shares during the period. Finally, Advisory Alpha LLC acquired a new stake in PTC in the fourth quarter worth about $253,000. Institutional investors own 95.14% of the company's stock.

PTC Stock Performance

PTC stock traded up $2.60 during trading hours on Tuesday, reaching $171.37. 891,732 shares of the company were exchanged, compared to its average volume of 879,045. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 52.89, a PEG ratio of 2.27 and a beta of 1.19. The stock has a 50-day moving average of $156.15 and a 200 day moving average of $173.10.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same period in the prior year, the business earned $1.46 earnings per share. PTC's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

PTC has been the subject of several research analyst reports. Robert W. Baird upped their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. KeyCorp cut their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler cut their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $187.15.

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.