Argyle Capital Management LLC Makes New Investment in PTC Inc. (NASDAQ:PTC)

Argyle Capital Management LLC bought a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,084 shares of the technology company's stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTC. Fifth Third Bancorp raised its holdings in shares of PTC by 16.5% during the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock valued at $517,000 after acquiring an additional 473 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company's stock valued at $39,212,000 after acquiring an additional 9,893 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in PTC by 20.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock valued at $2,091,000 after buying an additional 2,285 shares during the period. Proficio Capital Partners LLC acquired a new position in PTC in the 4th quarter valued at approximately $8,858,000. Finally, Avantax Advisory Services Inc. acquired a new position in PTC in the 4th quarter valued at approximately $223,000. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Up 1.0%

Shares of NASDAQ PTC traded up $1.82 during mid-day trading on Friday, hitting $175.13. The company's stock had a trading volume of 468,442 shares, compared to its average volume of 894,857. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 2.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. PTC Inc. has a one year low of $133.38 and a one year high of $203.09. The company's fifty day simple moving average is $167.75 and its 200-day simple moving average is $167.85.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data 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 18.77% and a return on equity of 15.35%. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same quarter last year, the firm earned $1.46 EPS. PTC's quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PTC. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a research report on Thursday, May 1st. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays dropped their price objective on shares of PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, BMO Capital Markets increased their price objective on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $188.69.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC 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 transaction, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

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.