Baird Financial Group Inc. Sells 50,705 Shares of PTC Inc. $PTC

Key Points

• Baird Financial Group Inc. reduced its stake in PTC Inc. by 15.4%, selling 50,705 shares during the first quarter, which left them with approximately 277,644 shares valued at $43 million.
• PTC reported a quarterly EPS of $1.64, surpassing estimates significantly, and experienced a 24.2% revenue increase year-over-year, totaling $643.94 million for the quarter.
• Several analysts have raised their price targets for PTC, with Barclays setting a target of $233 and Oppenheimer raising theirs to $240, maintaining a positive outlook for the stock.

Baird Financial Group Inc. lowered its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,644 shares of the technology company's stock after selling 50,705 shares during the period. Baird Financial Group Inc. owned approximately 0.23% of PTC worth $43,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTC. Brooklyn Investment Group boosted its position in shares of PTC by 15.5% in 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 in the last quarter. Wahed Invest LLC raised its stake in PTC by 2.1% during the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after buying an additional 61 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in PTC by 1.9% in the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after acquiring an additional 70 shares in the last quarter. American Century Companies Inc. grew its stake in shares of PTC by 3.3% in the first quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock worth $352,000 after acquiring an additional 73 shares during the last quarter. Finally, Portside Wealth Group LLC grew its stake in shares of PTC by 2.4% in the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Activity

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

PTC Stock Performance

PTC traded down $0.86 during mid-day trading on Tuesday, reaching $212.64. 809,552 shares of the company traded hands, compared to its average volume of 779,082. The stock has a market capitalization of $25.47 billion, a P/E ratio of 50.15, a P/E/G ratio of 2.27 and a beta of 1.18. 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 company's fifty day moving average price is $199.86 and its 200-day moving average price is $174.08. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $219.69.

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

Analyst Ratings Changes

PTC has been the topic of a number of analyst reports. Cantor Fitzgerald set a $120.00 price target on shares of PTC and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. BMO Capital Markets lifted their target price on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen cut shares of PTC from a "strong-buy" rating to a "buy" rating in a report on Saturday. Piper Sandler raised their price target on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. 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 investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.