Man Group plc Increases Stake in PTC Inc. (NASDAQ:PTC)

Man Group plc boosted its position in shares of PTC Inc. (NASDAQ:PTC) by 306.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,714 shares of the technology company’s stock after purchasing an additional 23,154 shares during the quarter. Man Group plc’s holdings in PTC were worth $5,647,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in shares of PTC during the 4th quarter valued at about $727,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of PTC by 20.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,998 shares of the technology company’s stock worth $919,000 after buying an additional 858 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of PTC by 6.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,138,355 shares of the technology company’s stock worth $209,308,000 after buying an additional 64,229 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PTC by 1,753.2% in the fourth quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company’s stock worth $54,909,000 after buying an additional 282,513 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of PTC by 58.4% in the fourth quarter. Gotham Asset Management LLC now owns 6,529 shares of the technology company’s stock worth $1,200,000 after buying an additional 2,407 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. KeyCorp dropped their price objective on shares of PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets raised their price objective on shares of PTC from $183.00 to $187.00 and gave the stock an “outperform” rating 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 report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Thursday, May 1st. Finally, 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 note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The shares were 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 of the company’s stock, valued at $1,182,650.12. This represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

PTC Trading Up 0.5%

PTC stock opened at $173.24 on Wednesday. The stock has a market cap of $20.78 billion, a P/E ratio of 53.47, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $203.09. The firm’s 50 day moving average price is $155.32 and its 200-day moving average price is $173.85.

PTC (NASDAQ:PTC) last announced 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. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. During the same quarter in the previous year, the business posted $1.46 earnings per share. PTC’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

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.