Congress Asset Management Co. Acquires 7,435 Shares of PTC Inc. $PTC

Key Points

• Congress Asset Management Co. has increased its stake in PTC Inc. by 6.1%, owning a total of 129,358 shares valued at approximately $22.29 million after acquiring an additional 7,435 shares.
• Research firms maintain a positive outlook on PTC, with several raising their price targets; the consensus target now stands at $202.14, with 11 analysts rating the stock as a "Buy".
• PTC recently reported strong quarterly earnings, with $1.64 EPS, exceeding estimates by $0.42, and a revenue of $643.94 million—up 24.2% year-over-year.

Congress Asset Management Co. boosted its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,358 shares of the technology company's stock after acquiring an additional 7,435 shares during the quarter. Congress Asset Management Co. owned 0.11% of PTC worth $22,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC purchased a new stake in PTC in the 1st quarter valued at about $26,000. Motco purchased a new stake in PTC in the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PTC in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT purchased a new stake in PTC in the 1st quarter valued at about $39,000. Finally, SVB Wealth LLC purchased a new stake in PTC in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTC. UBS Group reiterated a "buy" rating on shares of PTC in a research note on Tuesday, July 29th. KeyCorp restated an "overweight" rating and set a $245.00 price target (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Piper Sandler raised their price target on shares of PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Oppenheimer raised their price target on shares of PTC from $225.00 to $240.00 and gave the stock an "outperform" rating 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value of $429,984.52. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.

PTC Stock Up 0.1%

PTC opened at $202.96 on Friday. The company has a 50 day moving average of $208.14 and a 200 day moving average of $179.37. The company has a market cap of $24.31 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. PTC's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $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, sell-side analysts expect that PTC Inc. will post 4.46 EPS for the current year.

About PTC

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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