Summit Global Investments Acquires 2,760 Shares of PTC Inc. (NASDAQ:PTC)

Summit Global Investments lifted its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 161.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,473 shares of the technology company's stock after purchasing an additional 2,760 shares during the period. Summit Global Investments' holdings in PTC were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. grew its stake in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after buying an additional 240,080 shares during the period. Geode Capital Management LLC lifted its stake in shares of PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after acquiring an additional 67,504 shares during the period. Fernbridge Capital Management LP lifted its stake in shares of PTC by 6.0% in the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock worth $278,484,000 after acquiring an additional 85,564 shares during the period. Finally, Northern Trust Corp boosted its holdings in PTC by 11.0% in the fourth quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock valued at $241,472,000 after acquiring an additional 129,910 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PTC. Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Robert W. Baird boosted their target price on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Barclays cut their price target on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their price objective on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler cut their target price on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $187.15.

PTC Stock Up 0.8%

NASDAQ:PTC traded up $1.37 during trading hours on Tuesday, hitting $168.12. 523,386 shares of the company traded hands, compared to its average volume of 878,952. PTC Inc. has a one year low of $133.38 and a one year high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a market cap of $20.17 billion, a PE ratio of 51.89, a PEG ratio of 2.27 and a beta of 1.19. The firm's 50-day simple moving average is $156.85 and its 200-day simple moving average is $172.26.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the company's stock in a transaction on Monday, March 17th. The shares were 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 directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president now owns 17,731 shares in the company, valued at $2,836,960. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

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.