Bank of America Corp DE Sells 39,720 Shares of PTC Inc. $PTC

Key Points

• Bank of America reduced its PTC stake by 5.7%, selling 39,720 shares and retaining 652,179 shares valued at approximately $92.9 million. Institutional investors collectively own 95.14% of PTC.
• Analyst sentiment is mixed, with seven Buy, six Hold, and one Sell rating. PTC has a consensus rating of Hold and an average price target of $170.14.
• PTC reported quarterly EPS of $1.58, slightly above estimates, while revenue of $600.05 million declined 6.8% year over year and missed expectations. The stock opened at $147.71, with a market capitalization of approximately $16.03 billion.

Bank of America Corp DE decreased its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 5.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 652,179 shares of the technology company's stock after selling 39,720 shares during the period. Bank of America Corp DE owned about 0.56% of PTC worth $92,929,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in shares of PTC during the fourth quarter valued at approximately $27,000. Palladiem LLC bought a new position in PTC in the fourth quarter worth $28,000. DV Equities LLC purchased a new position in PTC during the fourth quarter valued at $29,000. Cedar Mountain Advisors LLC bought a new stake in shares of PTC during the 1st quarter valued at $36,000. Finally, Rakuten Securities Inc. grew its position in shares of PTC by 2,725.0% in the 4th quarter. Rakuten Securities Inc. now owns 226 shares of the technology company's stock worth $39,000 after buying an additional 218 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Ratings Changes

PTC has been the subject of a number of recent research reports. Robert W. Baird set a $198.00 price target on shares of PTC in a research report on Thursday, May 7th. BMO Capital Markets raised their target price on shares of PTC from $155.00 to $164.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Barclays boosted their price target on PTC from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup upped their price target on PTC from $127.00 to $141.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PTC presently has an average rating of "Hold" and a consensus price target of $170.14.

PTC Stock Up 0.0%

PTC opened at $147.71 on Friday. The firm's 50 day simple moving average is $125.94 and its two-hundred day simple moving average is $141.02. The company has a market capitalization of $16.03 billion, a PE ratio of 14.29, a PEG ratio of 2.12 and a beta of 0.98. PTC Inc. has a 1-year low of $108.50 and a 1-year high of $217.64. The company has a current ratio of 1.03, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. PTC had a net margin of 41.67% and a return on equity of 25.31%. The firm had revenue of $600.05 million during the quarter, compared to the consensus estimate of $611.62 million. During the same quarter in the previous year, the firm posted $1.64 EPS. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. PTC has set its FY 2026 guidance at 7.870-8.420 EPS and its Q4 2026 guidance at 1.630-2.210 EPS. As a group, equities analysts forecast that PTC Inc. will post 6.47 EPS for the current year.

Insider Activity

In other news, CAO Alice Christenson sold 816 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $145.82, for a total value of $118,989.12. Following the transaction, the chief accounting officer owned 1,265 shares of the company's stock, valued at approximately $184,462.30. The trade was a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

PTC Profile

PTC Inc NASDAQ: PTC is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.

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