Summit Global Investments Makes New $315,000 Investment in PTC Inc. (NASDAQ:PTC)

Summit Global Investments acquired a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,713 shares of the technology company's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG increased its position in shares of PTC by 1.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company's stock valued at $722,000 after buying an additional 55 shares during the period. Wedmont Private Capital increased its holdings in shares of PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company's stock worth $734,000 after purchasing an additional 64 shares during the period. Allworth Financial LP raised its position in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after buying an additional 69 shares in the last quarter. Otter Creek Advisors LLC boosted its stake in PTC by 0.4% during the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock valued at $3,527,000 after buying an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC increased its holdings in shares of PTC by 3.2% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company's stock worth $542,000 after buying an additional 91 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

PTC Stock Down 3.4 %

NASDAQ:PTC traded down $5.51 during midday trading on Friday, reaching $154.80. 975,994 shares of the stock traded hands, compared to its average volume of 851,213. The business has a 50-day moving average of $170.50 and a two-hundred day moving average of $180.96. 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 12-month low of $151.80 and a 12-month high of $203.09. The stock has a market capitalization of $18.63 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PTC shares. 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 PTC from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. upped their price objective on shares of PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $210.09.

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.