Comerica Bank Has $2.15 Million Stock Position in PTC Inc. $PTC

Key Points

• Comerica Bank has significantly reduced its stake in PTC Inc. by 88.6%, selling 107,186 shares, leaving it with a position valued at $2.15 million.
• Insider trading revealed that Executive Vice President Staats Aaron C. Von sold 1,988 shares at an average price of $216.29, representing an 11.21% decrease in their holdings.
• PTC's stock has recently received positive updates from analysts, with several raising their price targets and maintaining buy ratings, indicating a favorable outlook for the company.

Comerica Bank reduced its position in PTC Inc. (NASDAQ:PTC - Free Report) by 88.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,843 shares of the technology company's stock after selling 107,186 shares during the period. Comerica Bank's holdings in PTC were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in 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 during the last quarter. D.A. Davidson & CO. boosted its position in shares of PTC by 1.9% in the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after purchasing an additional 70 shares during the last quarter. American Century Companies Inc. boosted its position in shares of PTC by 3.3% in the 1st quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock worth $352,000 after purchasing an additional 73 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of PTC by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the last quarter. Finally, Strategic Advisors LLC boosted its position in shares of PTC by 1.1% in the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock worth $1,198,000 after purchasing an additional 83 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated 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 $3,405,053.47. This trade represents a 11.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PTC has been the topic of several recent research reports. BMO Capital Markets raised their price target on PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company restated an "overweight" rating on shares of PTC in a research report on Tuesday, July 29th. KeyCorp restated an "overweight" rating and issued a $245.00 price target (up from $192.00) on shares of PTC in a research report on Thursday, July 31st. Barclays set a $233.00 target price on PTC in a report on Thursday, July 31st. Finally, Oppenheimer lifted their target price on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $202.14.

PTC Stock Performance

PTC stock opened at $213.50 on Tuesday. The business's 50-day moving average price is $199.00 and its two-hundred day moving average price is $173.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market cap of $25.58 billion, a PE ratio of 50.35, a P/E/G ratio of 2.27 and a beta of 1.18. PTC Inc. has a 1-year low of $133.38 and a 1-year 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, beating the consensus estimate of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%.The firm had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. During the same quarter last year, the business posted $0.98 EPS. The company's revenue for the quarter was up 24.2% on a year-over-year basis. PTC has set its FY 2025 guidance at 6.630-7.030 EPS. Q4 2025 guidance at 2.100-2.500 EPS. As a group, research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

PTC 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.

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