Korea Investment CORP Purchases 34,335 Shares of PTC Inc. (NASDAQ:PTC)

Korea Investment CORP lifted its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,376 shares of the technology company's stock after buying an additional 34,335 shares during the period. Korea Investment CORP owned about 0.06% of PTC worth $14,227,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its stake 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 purchasing an additional 69 shares in the last quarter. Assetmark Inc. raised its position in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after acquiring an additional 297 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock valued at $83,000 after acquiring an additional 205 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of PTC in the 4th quarter valued at about $84,000. Finally, Jones Financial Companies Lllp lifted its stake in PTC by 1,140.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock valued at $84,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Analyst Ratings Changes

PTC has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Rosenblatt Securities restated a "buy" rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. KeyCorp upped their target price on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. StockNews.com cut PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, Citigroup decreased their price objective on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PTC has an average rating of "Moderate Buy" and a consensus target price of $210.09.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction dated 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 owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company's stock.

PTC Price Performance

Shares of PTC traded down $9.76 during trading hours on Friday, hitting $139.77. 1,244,232 shares of the company were exchanged, compared to its average volume of 861,322. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 2.27 and a beta of 1.22. The firm's fifty day moving average is $166.16 and its 200 day moving average is $180.21. PTC Inc. has a fifty-two week low of $138.77 and a fifty-two week 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.

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

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.