Bank of New York Mellon Corp Trims Stake in PTC Inc. $PTC

Key Points

• Bank of New York Mellon trimmed its PTC stake by 2.9% in the first quarter, selling 19,621 shares and leaving it with 662,973 shares worth about $94.5 million.
• PTC continues to see strong institutional ownership, with hedge funds and other investors holding 95.14% of the stock; meanwhile, insider activity included CAO Alice Christenson selling 816 shares in May.
• Analysts remain broadly positive on PTC despite a recent downgrade from Wall Street Zen: the stock has a Moderate Buy consensus with an average price target of $171.27, while the company recently beat earnings and revenue expectations for the quarter.

Bank of New York Mellon Corp reduced its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 662,973 shares of the technology company's stock after selling 19,621 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of PTC worth $94,467,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in shares of PTC in the fourth quarter worth $27,000. Palladiem LLC bought a new stake in shares of PTC in the fourth quarter worth about $28,000. DV Equities LLC purchased a new stake in shares of PTC in the fourth quarter worth about $29,000. Cedar Mountain Advisors LLC purchased a new stake in shares of PTC during the 1st quarter worth approximately $36,000. Finally, Rakuten Securities Inc. lifted its position in PTC by 2,725.0% during the fourth quarter. Rakuten Securities Inc. now owns 226 shares of the technology company's stock valued at $39,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Buying and Selling at PTC

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

Analyst Ratings Changes

PTC has been the subject of several analyst reports. Robert W. Baird set a $198.00 price objective on PTC in a research note on Thursday, May 7th. Rosenblatt Securities reissued a "buy" rating and issued a $190.00 price objective on shares of PTC in a research report on Tuesday, May 5th. Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. BNP Paribas Exane started coverage on shares of PTC in a research note on Thursday, June 18th. They set a "neutral" rating and a $130.00 price objective on the stock. Finally, Berenberg Bank set a $170.00 price objective on PTC in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and an average price target of $171.27.

PTC Price Performance

Shares of NASDAQ PTC opened at $124.83 on Tuesday. PTC Inc. has a 12 month low of $108.50 and a 12 month high of $219.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.23 and a quick ratio of 1.23. The firm's 50 day simple moving average is $129.35 and its 200-day simple moving average is $144.73. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.82 and a beta of 0.99.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.63. The business had revenue of $774.30 million during the quarter, compared to analysts' expectations of $712.40 million. PTC had a return on equity of 25.84% and a net margin of 41.81%.The business's revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 earnings per share. PTC has set its FY 2026 guidance at 6.650-8.900 EPS and its Q3 2026 guidance at 1.240-1.780 EPS. Analysts expect that PTC Inc. will post 6.35 EPS for the current year.

About PTC

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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