Ascent Group LLC Cuts Position in PTC Inc. $PTC

Key Points

• Ascent Group LLC significantly reduced its holdings in PTC Inc. by 83.1% in the first quarter, now owning only 2,587 shares valued at $401,000 after selling over 12,000 shares.
• Other institutional investors, including T. Rowe Price and Vanguard Group, increased their stakes in PTC during the same period, with T. Rowe Price now holding over 20 million shares valued at approximately $3.15 billion.
• PTC reported strong quarterly earnings with $1.64 EPS, exceeding analyst estimates, and a revenue of $643.94 million, reflecting a 24.2% increase compared to the previous year.

Ascent Group LLC cut its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 83.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,587 shares of the technology company's stock after selling 12,708 shares during the quarter. Ascent Group LLC's holdings in PTC were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group increased its position in shares of PTC by 15.5% during the 1st quarter. Brooklyn Investment Group now owns 439 shares of the technology company's stock worth $68,000 after purchasing an additional 59 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of PTC by 1.9% in the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after buying an additional 70 shares during the period. American Century Companies Inc. lifted its stake in PTC by 3.3% during the first quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock worth $352,000 after purchasing an additional 73 shares during the last quarter. Portside Wealth Group LLC lifted its stake in PTC by 2.4% during the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the last quarter. Finally, Strategic Advisors LLC lifted its stake in PTC by 1.1% in the first quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after buying an additional 83 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $429,984.52. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PTC. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, July 29th. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a report on Tuesday, July 29th. Royal Bank Of Canada upped their target price on PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price objective on PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Oppenheimer upped their price objective on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

PTC Trading Down 0.5%

NASDAQ PTC traded down $0.96 during trading hours on Monday, hitting $204.15. 630,341 shares of the company's stock were exchanged, compared to its average volume of 1,045,824. The business's 50 day moving average is $205.78 and its 200-day moving average is $176.57. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69. The firm has a market capitalization of $24.46 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%.The firm had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. During the same period in the prior year, the business posted $0.98 earnings per share. The firm's revenue for the quarter 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, analysts anticipate that PTC Inc. will post 4.46 EPS 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.