Allstate Corp Purchases 2,942 Shares of PTC Inc. $PTC

Key Points

• Allstate Corp significantly increased its stake in PTC Inc. by 83.3% during the first quarter, owning 6,474 shares valued at approximately $1,003,000.
• Several large institutional investors have also increased their holdings in PTC, with a collective 95.14% of the stock now owned by institutional investors and hedge funds.
• PTC reported strong earnings, with a 24.2% year-over-year revenue increase and an EPS of $1.64 for the last quarter, exceeding analysts' expectations of $1.22.

Allstate Corp raised its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 83.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,474 shares of the technology company's stock after acquiring an additional 2,942 shares during the quarter. Allstate Corp's holdings in PTC were worth $1,003,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PTC. Fifth Third Bancorp grew its position in PTC by 16.5% in the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock valued at $517,000 after purchasing an additional 473 shares in the last quarter. Mather Group LLC. grew its holdings in shares of PTC by 18.3% in the 1st quarter. Mather Group LLC. now owns 845 shares of the technology company's stock valued at $131,000 after acquiring an additional 131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PTC by 20.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock valued at $2,091,000 after acquiring an additional 2,285 shares during the last quarter. M&T Bank Corp increased its position in shares of PTC by 8.2% in the first quarter. M&T Bank Corp now owns 9,522 shares of the technology company's stock valued at $1,475,000 after acquiring an additional 724 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in PTC by 8.3% during the first quarter. Sequoia Financial Advisors LLC now owns 2,014 shares of the technology company's stock worth $312,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Insider Buying and Selling at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 15,743 shares in the company, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company's stock.

PTC Stock Performance

PTC stock traded down $1.53 during trading hours on Friday, hitting $213.51. 581,689 shares of the stock were exchanged, compared to its average volume of 1,054,944. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $25.58 billion, a P/E ratio of 50.35, a P/E/G ratio of 2.30 and a beta of 1.17. The company has a 50-day simple moving average of $197.13 and a two-hundred day simple moving average of $173.11.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on PTC. UBS Group reissued a "buy" rating on shares of PTC in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their price target on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Wells Fargo & Company restated an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, PTC presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

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.