Hsbc Holdings PLC Lowers Stake in PTC Inc. $PTC

Key Points

• Hsbc Holdings PLC reduced its stake in PTC Inc. by 8.6%, now holding 255,318 shares valued at approximately $39.41 million.
• PTC reported strong earnings, with an EPS of $1.64 for the last quarter, exceeding analysts' expectations of $1.22, and showing a 24.2% increase in revenue year-over-year.
• Analysts have recently adjusted their price targets for PTC, with estimates ranging from $120.00 to $245.00 per share, reflecting a generally favorable outlook on the stock.

Hsbc Holdings PLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,318 shares of the technology company's stock after selling 24,108 shares during the quarter. Hsbc Holdings PLC owned 0.21% of PTC worth $39,409,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its holdings in PTC by 15.5% during the 1st quarter. Brooklyn Investment Group now owns 439 shares of the technology company's stock worth $68,000 after buying an additional 59 shares in the last quarter. Wahed Invest LLC lifted its holdings in PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after buying an additional 61 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in PTC by 1.9% during the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after buying an additional 70 shares in the last quarter. American Century Companies Inc. lifted its holdings in PTC by 3.3% during the 1st quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock worth $352,000 after buying an additional 73 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its holdings in PTC by 2.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after buying an additional 78 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.32% of the company's stock.

PTC Stock Up 2.0%

NASDAQ:PTC traded up $4.17 during midday trading on Wednesday, hitting $216.75. 297,337 shares of the company were exchanged, compared to its average volume of 1,058,595. The company has a fifty day simple moving average of $195.16 and a 200 day simple moving average of $172.48. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week 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. The company has a market capitalization of $25.97 billion, a PE ratio of 51.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The firm had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. During the same period last year, the business earned $0.98 EPS. PTC's revenue for the quarter was up 24.2% compared to the same quarter last year. 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, equities analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PTC has been the topic of a number of analyst reports. Oppenheimer raised their price objective on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. UBS Group restated a "buy" rating on shares of PTC in a report on Tuesday, July 29th. Cantor Fitzgerald set a $120.00 price objective on shares of PTC and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $202.14.

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.