Kirtland Hills Capital Management LLC Decreases Holdings in PTC Inc. (NASDAQ:PTC)

Kirtland Hills Capital Management LLC trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,800 shares of the technology company’s stock after selling 148 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in PTC were worth $402,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of PTC during the 1st quarter valued at about $26,000. Motco bought a new position in PTC during the 1st quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new position in PTC during the 4th quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in PTC during the 1st quarter valued at about $33,000. Finally, UMB Bank n.a. grew its holdings in PTC by 153.4% during the 1st 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 last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred 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 owned 17,731 shares of the company’s stock, valued at $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

PTC Price Performance

NASDAQ PTC opened at $204.00 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $178.24 and its 200-day moving average price is $169.00. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a market cap of $24.47 billion, a PE ratio of 56.04, a P/E/G ratio of 2.78 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. During the same period last year, the firm earned $1.46 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PTC shares. Robert W. Baird upped their price target on shares of PTC from $185.00 to $191.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Mizuho cut their price target on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Piper Sandler cut their price target on shares of PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $160.00 target price (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Finally, Barclays upped their target price on shares of PTC from $175.00 to $203.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.08.

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.