Korea Investment CORP Purchases 31,886 Shares of PTC Inc. $PTC

Key Points

• Korea Investment CORP increased its ownership in PTC Inc. by 41.2%, owning 109,262 shares worth approximately $16.93 million at the end of the recent quarter.
• PTC reported strong financial results, with earnings per share (EPS) of $1.64, surpassing estimates and achieving a revenue increase of 24.2% year-over-year.
• Multiple brokerages have raised their price targets for PTC, with a consensus rating of "Moderate Buy" and an average price target around $202.14.

Korea Investment CORP grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 41.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 109,262 shares of the technology company's stock after purchasing an additional 31,886 shares during the quarter. Korea Investment CORP owned about 0.09% of PTC worth $16,930,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTC. T. Rowe Price Investment Management Inc. boosted its stake in PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares in the last quarter. Nuveen LLC bought a new stake in shares of PTC during the first quarter worth $241,789,000. Pictet Asset Management Holding SA raised its position in shares of PTC by 41.6% during the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after acquiring an additional 844,418 shares during the last quarter. GAMMA Investing LLC raised its position in shares of PTC by 13,184.0% during the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after acquiring an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of PTC during the fourth quarter worth $59,506,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTC. Piper Sandler boosted their target price on PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. KeyCorp reaffirmed an "overweight" rating and issued a $245.00 price objective (up from $192.00) on shares of PTC in a research note on Thursday, July 31st. Robert W. Baird lifted their target price on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus raised their price target on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

Insider Buying and Selling

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

PTC Trading Up 1.5%

NASDAQ:PTC traded up $3.10 during trading hours on Friday, hitting $215.05. The stock had a trading volume of 668,593 shares, compared to its average volume of 969,782. PTC Inc. has a one year low of $133.38 and a one year 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 cap of $25.76 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 2.29 and a beta of 1.17. The business's 50 day moving average is $193.43 and its 200-day moving average is $171.88.

PTC (NASDAQ:PTC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $582.12 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business's quarterly revenue 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. Sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal 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.