Baron Wealth Management LLC Takes $214,000 Position in PTC Inc. $PTC

Key Points

• Baron Wealth Management LLC purchased a new stake in PTC Inc., acquiring 1,243 shares valued at approximately $214,000 during the 2nd quarter.
• Several hedge funds have also increased their stakes in PTC, with Fiduciary Alliance LLC and Silverberg Bernstein Capital Management LLC raising their holdings by 30.3% and 28.0%, respectively.
• PTC reported earnings of $1.64 per share in its latest quarterly results, surpassing the consensus estimate by $0.42, with revenues totaling $643.94 million for the quarter.

Baron Wealth Management LLC purchased a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,243 shares of the technology company's stock, valued at approximately $214,000.

A number of other hedge funds have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its position in shares of PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock worth $3,147,478,000 after purchasing an additional 3,048,311 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PTC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock worth $2,220,771,000 after acquiring an additional 39,688 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of PTC by 41.6% during the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after purchasing an additional 844,418 shares during the period. Wellington Management Group LLP increased its holdings in PTC by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock worth $367,382,000 after purchasing an additional 44,961 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in PTC during the first quarter worth approximately $241,789,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Ratings Changes

PTC has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, July 29th. Piper Sandler increased their price objective 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. Cantor Fitzgerald set a $120.00 target price on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, KeyCorp reiterated an "overweight" rating and issued a $245.00 target price (up from $192.00) on shares of PTC in a research note on Thursday, July 31st. 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, the company has a consensus rating of "Moderate Buy" and an average target price of $202.14.

PTC Stock Performance

Shares of NASDAQ:PTC traded down $0.24 on Friday, hitting $205.95. The company's stock had a trading volume of 1,638,273 shares, compared to its average volume of 781,501. 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 Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The stock's 50-day moving average is $207.24 and its two-hundred day moving average is $177.99.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating 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 return on equity of 17.09% and a net margin of 20.74%.The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm 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, equities research analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the sale, the executive vice president owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company's stock.

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.