Praesidium Investment Management Company LLC Has $64.25 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Praesidium Investment Management Company LLC reduced its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,438 shares of the technology company's stock after selling 27,788 shares during the period. PTC comprises approximately 10.8% of Praesidium Investment Management Company LLC's investment portfolio, making the stock its 3rd largest position. Praesidium Investment Management Company LLC owned 0.29% of PTC worth $64,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTC. ProShare Advisors LLC raised its position in PTC by 9.2% in the fourth quarter. ProShare Advisors LLC now owns 26,011 shares of the technology company's stock valued at $4,783,000 after purchasing an additional 2,198 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of PTC by 279.6% in the fourth quarter. Quantinno Capital Management LP now owns 10,728 shares of the technology company's stock valued at $1,973,000 after buying an additional 7,902 shares during the period. Mufg Securities Americas Inc. bought a new position in PTC in the 4th quarter valued at approximately $326,000. Man Group plc boosted its position in PTC by 306.3% during the 4th quarter. Man Group plc now owns 30,714 shares of the technology company's stock worth $5,647,000 after buying an additional 23,154 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in PTC during the 4th quarter worth approximately $727,000. 95.14% of the stock is owned by institutional investors.

PTC Stock Up 0.4%

Shares of PTC traded up $0.77 on Tuesday, reaching $173.16. The company's stock had a trading volume of 207,643 shares, compared to its average volume of 872,577. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09. The stock has a market capitalization of $20.77 billion, a PE ratio of 53.42, a PEG ratio of 2.27 and a beta of 1.19. 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 fifty day moving average of $154.92 and a 200-day moving average of $173.85.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The firm had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same period in the previous year, the company posted $1.46 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PTC. KeyCorp dropped their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler cut their target price on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets upped their price target on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Mizuho lowered their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus cut their price objective on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $187.15.

Insider Activity at PTC

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

PTC Company 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.