Kayne Anderson Rudnick Investment Management LLC Lowers Position in PTC Inc. $PTC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in PTC Inc. by 10.8% during the first quarter, now holding 209,528 shares valued at approximately $32.47 million.
• Several new institutional investors, including Bartlett & CO. Wealth Management and Motco, have recently purchased shares of PTC, which is now owned 95.14% by hedge funds and other institutional investors.
• PTC reported earnings of $1.64 per share, exceeding estimates, with revenue up 24.2% year-over-year, showing strong financial performance in its latest quarter.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,528 shares of the technology company's stock after selling 25,260 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.17% of PTC worth $32,466,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PTC. Brooklyn Investment Group raised its position in shares of PTC by 15.5% during the 1st quarter. Brooklyn Investment Group now owns 439 shares of the technology company's stock valued at $68,000 after buying an additional 59 shares in the last quarter. Wahed Invest LLC lifted its stake in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after purchasing an additional 61 shares during the last quarter. D.A. Davidson & CO. boosted its holdings 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 period. American Century Companies Inc. increased its position in shares of PTC by 3.3% during the 1st quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock valued at $352,000 after purchasing an additional 73 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in PTC by 2.4% in the first 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 during the last quarter. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent analyst reports. KeyCorp reissued an "overweight" rating and issued a $245.00 target price (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. Piper Sandler upped their price objective on PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Barclays set a $233.00 target price on PTC in a research report on Thursday, July 31st. Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird upped their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.14.

PTC Stock Down 0.7%

PTC stock traded down $1.53 during trading on Friday, reaching $213.50. 1,098,614 shares of the company traded hands, compared to its average volume of 1,055,621. The business has a 50 day simple moving average of $197.13 and a 200 day simple moving average of $173.11. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 50.35, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, beating 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 was up 24.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. PTC has set its FY 2025 guidance at 6.630-7.030 EPS. Q4 2025 guidance at 2.100-2.500 EPS. On average, equities research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. This trade represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.32% of the company's stock.

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.