Korea Investment CORP Lowers Position in PTC Inc. $PTC

Korea Investment CORP lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 47.3% during the second quarter, HoldingsChannel.com reports. The firm owned 57,613 shares of the technology company’s stock after selling 51,649 shares during the period. Korea Investment CORP’s holdings in PTC were worth $9,929,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PTC. T. Rowe Price Investment Management Inc. raised its position in shares of PTC by 17.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock worth $3,147,478,000 after buying an additional 3,048,311 shares during the period. Nuveen LLC acquired a new stake in PTC during the first quarter worth about $241,789,000. CCLA Investment Management purchased a new position in shares of PTC in the 2nd quarter worth about $94,629,000. Vanguard Group Inc. grew its holdings in shares of PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in PTC by 27.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock worth $235,134,000 after purchasing an additional 327,326 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PTC. Rosenblatt Securities reduced their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Piper Sandler reduced their target price on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Zacks Research downgraded PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Robert W. Baird set a $255.00 target price on PTC in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Trading Up 1.3%

NASDAQ:PTC opened at $175.78 on Monday. The company has a market cap of $21.00 billion, a PE ratio of 41.46, a P/E/G ratio of 1.90 and a beta of 1.15. The business’s 50 day moving average is $192.46 and its two-hundred day moving average is $191.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a return on equity of 17.09% and a net margin of 20.74%.The firm had revenue of $1.76 billion for the quarter. On average, analysts predict that PTC Inc. will post 4.46 EPS 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.