Kovitz Investment Group Partners LLC Invests $350,000 in PTC Inc. (NASDAQ:PTC)

Kovitz Investment Group Partners LLC purchased a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,901 shares of the technology company's stock, valued at approximately $350,000.

Other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of PTC during the 4th quarter valued at $30,000. Allworth Financial LP lifted its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after acquiring an additional 69 shares during the period. Assetmark Inc. boosted its position in PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of PTC during the 4th quarter valued at about $77,000. Finally, Smartleaf Asset Management LLC increased its position in shares of PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock valued at $83,000 after purchasing an additional 205 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on PTC shares. StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Barclays reduced their price objective on PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. BMO Capital Markets lifted their target price on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday. KeyCorp reduced their price target on PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $187.15.

PTC Stock Performance

PTC opened at $160.09 on Friday. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 2.27 and a beta of 1.17. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The company has a fifty day moving average of $153.51 and a 200 day moving average of $175.38.

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

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company's stock, valued at $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 SEC, which is available through this link. 0.32% of the stock is owned by insiders.

PTC Company 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.

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