Quadrant Capital Group LLC Decreases Stock Position in PTC Inc. $PTC

Quadrant Capital Group LLC lowered its position in shares of PTC Inc. (NASDAQ:PTC) by 62.4% during the second quarter, HoldingsChannel reports. The firm owned 1,882 shares of the technology company’s stock after selling 3,119 shares during the period. Quadrant Capital Group LLC’s holdings in PTC were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PTC. Choreo LLC acquired a new stake in PTC during the 2nd quarter valued at $297,000. MIG Capital LLC grew its stake in shares of PTC by 308.7% during the second quarter. MIG Capital LLC now owns 14,324 shares of the technology company’s stock valued at $2,469,000 after acquiring an additional 10,819 shares in the last quarter. Inceptionr LLC grew its stake in shares of PTC by 114.8% during the second quarter. Inceptionr LLC now owns 12,287 shares of the technology company’s stock valued at $2,118,000 after acquiring an additional 6,568 shares in the last quarter. North Star Asset Management Inc. lifted its stake in shares of PTC by 3.8% in the second quarter. North Star Asset Management Inc. now owns 156,349 shares of the technology company’s stock worth $26,945,000 after acquiring an additional 5,681 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of PTC by 14.8% in the second quarter. Manchester Capital Management LLC now owns 892 shares of the technology company’s stock worth $154,000 after acquiring an additional 115 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PTC shares. Piper Sandler lowered their price objective on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Rosenblatt Securities dropped their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of PTC in a research note on Monday. Wall Street Zen lowered shares of PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research lowered shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $205.92.

PTC Trading Down 2.8%

NASDAQ:PTC opened at $173.52 on Friday. The firm has a market capitalization of $20.73 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.17 and a beta of 1.03. The business has a 50 day simple moving average of $189.69 and a 200 day simple moving average of $191.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 1.43. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

PTC (NASDAQ:PTC) last posted its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The company had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. Equities research analysts predict that PTC Inc. will post 4.46 EPS for the current year.

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.