Bright Rock Capital Management LLC Makes New $2.15 Million Investment in PTC Inc. $PTC

Key Points

• Bright Rock Capital Management LLC acquired 12,500 shares of PTC Inc., valued at approximately $2.15 million, indicating growing interest in the technology firm's stock.
• PTC reported a 24.2% year-over-year increase in revenue for the quarter, with earnings per share of $1.64 surpassing analysts' estimates.
• Analyst target prices for PTC have been raised, with Royal Bank of Canada setting a new target of $235 and KeyCorp increasing theirs to $245, reflecting positive market sentiment.

Bright Rock Capital Management LLC acquired a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,500 shares of the technology company's stock, valued at approximately $2,154,000.

A number of other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in PTC by 17.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock worth $3,147,478,000 after acquiring an additional 3,048,311 shares during the last quarter. Vanguard Group Inc. increased its stake in PTC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock worth $2,220,771,000 after acquiring an additional 39,688 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after purchasing an additional 844,418 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PTC by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock worth $367,382,000 after purchasing an additional 44,961 shares during the period. Finally, Nuveen LLC purchased a new position in shares of PTC in the 1st quarter worth approximately $241,789,000. Institutional investors own 95.14% of the company's stock.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the completion of the sale, the executive vice president directly owned 15,743 shares in the company, valued at approximately $3,405,053.47. This represents a 11.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

PTC has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Piper Sandler lifted their target price on PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Wall Street Zen cut PTC from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Stifel Nicolaus lifted their target price on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, UBS Group reiterated a "buy" rating on shares of PTC in a report on Tuesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

PTC Trading Down 0.1%

PTC traded down $0.24 during trading hours on Friday, reaching $205.95. 1,638,273 shares of the company's stock traded hands, compared to its average volume of 781,501. The firm has a 50-day moving average price of $207.24 and a 200 day moving average price of $177.88. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $219.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $24.67 billion, a PE ratio of 48.57, a PEG ratio of 2.13 and a beta of 1.18.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%.The company had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. During the same quarter in the previous year, the business earned $0.98 EPS. PTC's revenue was up 24.2% compared to the same quarter last year. PTC has set its FY 2025 guidance at 6.630-7.030 EPS. Q4 2025 guidance at 2.100-2.500 EPS. As a group, sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

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.