Korea Investment CORP Boosts Stake in PTC Inc. (NASDAQ:PTC)

Korea Investment CORP increased its stake in PTC Inc. (NASDAQ:PTC) by 79.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,376 shares of the technology company’s stock after acquiring an additional 34,335 shares during the period. Korea Investment CORP’s holdings in PTC were worth $14,227,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PTC. Raymond James Financial Inc. bought a new stake in PTC during the fourth quarter worth about $146,712,000. Vanguard Group Inc. lifted its position in PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock worth $2,627,961,000 after buying an additional 240,080 shares during the last quarter. JPMorgan Chase & Co. lifted its position in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after buying an additional 135,677 shares during the last quarter. State Street Corp boosted its stake in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in PTC during the third quarter valued at approximately $20,636,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of research reports. KeyCorp upped their price objective on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Stifel Nicolaus lifted their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and set a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Finally, Citigroup reduced their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $154.80 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a fifty-two week low of $151.80 and a fifty-two week high of $203.09. The firm has a market cap of $18.63 billion, a P/E ratio of 47.78, a P/E/G ratio of 2.27 and a beta of 1.22. The business’s 50 day moving average price is $169.84 and its 200-day moving average price is $181.05.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, equities research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

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.