CIBC Asset Management Inc Boosts Holdings in PTC Inc. $PTC

Key Points

• CIBC Asset Management increased its stake in PTC by 69.3% in the fourth quarter, buying 11,523 additional shares and bringing its total holding to 28,161 shares worth about $4.9 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors controlling 95.14% of PTC shares. Several large funds, including State Street and Geode Capital, also reported added positions.
• PTC’s latest earnings beat Wall Street estimates, with quarterly EPS of $2.69 versus $2.06 expected and revenue of $774.3 million, up 21.7% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $176.71.

CIBC Asset Management Inc lifted its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 69.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,161 shares of the technology company's stock after buying an additional 11,523 shares during the period. CIBC Asset Management Inc's holdings in PTC were worth $4,906,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of PTC by 4.1% in the 3rd quarter. State Street Corp now owns 5,593,645 shares of the technology company's stock worth $1,135,622,000 after acquiring an additional 221,349 shares during the period. Geode Capital Management LLC lifted its stake in shares of PTC by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,570,540 shares of the technology company's stock worth $619,901,000 after acquiring an additional 71,181 shares during the period. Norges Bank acquired a new stake in shares of PTC in the 4th quarter worth $295,399,000. Standard Investments LLC lifted its stake in shares of PTC by 10.4% in the 3rd quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company's stock worth $321,990,000 after acquiring an additional 150,000 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of PTC by 2.6% in the 3rd quarter. Northern Trust Corp now owns 1,379,890 shares of the technology company's stock worth $280,145,000 after acquiring an additional 34,663 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 675 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $157.24, for a total value of $106,137.00. Following the completion of the sale, the director directly owned 8,429 shares in the company, valued at approximately $1,325,375.96. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 816 shares of the business'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 of the company's stock, valued at approximately $184,462.30. The trade was a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PTC. Mizuho reduced their target price on shares of PTC from $180.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, March 23rd. Barclays raised their price objective on shares of PTC from $180.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of PTC from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Robert W. Baird set a $198.00 price objective on shares of PTC in a research note on Thursday, May 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $190.00 price objective on shares of PTC in a research note on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PTC has a consensus rating of "Moderate Buy" and a consensus target price of $176.71.

PTC Stock Performance

NASDAQ:PTC opened at $137.00 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $141.01 and a two-hundred day moving average price of $156.64. PTC Inc. has a twelve month low of $130.89 and a twelve month high of $219.69. The company has a market capitalization of $15.82 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 2.02 and a beta of 0.97.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The technology company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.63. PTC had a net margin of 41.81% and a return on equity of 25.84%. The firm had revenue of $774.30 million during the quarter, compared to the consensus estimate of $712.40 million. During the same period last year, the firm posted $1.79 EPS. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. PTC has set its FY 2026 guidance at 6.650-8.900 EPS and its Q3 2026 guidance at 1.240-1.780 EPS. As a group, research analysts expect that PTC Inc. will post 6.3 earnings per share for the current fiscal 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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