Covea Finance Purchases 7,500 Shares of PTC Inc. $PTC

Key Points

• Covea Finance has increased its stake in PTC Inc. by 29.4% after acquiring an additional 7,500 shares, bringing its total holdings to 33,000 shares worth approximately $5.69 million.
• PTC reported a quarterly earnings per share (EPS) of $1.64, which exceeded analysts' estimates of $1.22, along with a revenue of $643.94 million for the quarter.
• PTC has received revised price targets from analysts, with Barclays setting a target of $233.00 and Oppenheimer increasing their target to $240.00, indicating strong investor interest.

Covea Finance increased its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 29.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the technology company's stock after acquiring an additional 7,500 shares during the quarter. Covea Finance's holdings in PTC were worth $5,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC acquired a new position in shares of PTC in the first quarter worth approximately $26,000. Motco acquired a new position in shares of PTC in the first quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PTC in the first quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new position in shares of PTC in the first quarter worth approximately $39,000. Finally, SVB Wealth LLC acquired a new position in shares of PTC in the first quarter worth approximately $41,000. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Down 0.0%

Shares of NASDAQ:PTC opened at $205.93 on Tuesday. The company has a market capitalization of $24.67 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day moving average price of $207.54 and a two-hundred day moving average price of $178.42. 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 announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. The firm had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%.The business's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company 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. Analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on PTC shares. Barclays set a $233.00 price objective on PTC in a research note on Thursday, July 31st. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. Oppenheimer boosted their price target on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada boosted their price target on PTC from $224.00 to $235.00 and gave the company 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, PTC has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company'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 completion of the transaction, the executive vice president owned 15,743 shares in the company, valued at $3,405,053.47. This represents a 11.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

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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