Kornitzer Capital Management Inc. KS Trims Stake in PTC Inc. $PTC

Key Points

• Kornitzer Capital Management Inc. reduced its stake in PTC Inc. by 70.1%, selling 37,450 shares during the second quarter, leaving them with 16,000 shares worth approximately $2.76 million.
• Analysts have maintained a positive outlook on PTC, with 11 issuing buy ratings and a consensus price target of $206.71, following the company’s strong quarterly earnings report.
• PTC reported $643.94 million in revenue for the quarter, exceeding estimates, and has set its FY 2025 guidance at $6.630-7.030 EPS.

Kornitzer Capital Management Inc. KS reduced its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 70.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,000 shares of the technology company's stock after selling 37,450 shares during the period. Kornitzer Capital Management Inc. KS's holdings in PTC were worth $2,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PTC. Asset Management One Co. Ltd. grew its position in shares of PTC by 10.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,716 shares of the technology company's stock valued at $7,549,000 after purchasing an additional 4,445 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of PTC by 6.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 163,711 shares of the technology company's stock valued at $25,367,000 after purchasing an additional 9,664 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of PTC by 8.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,014 shares of the technology company's stock worth $312,000 after acquiring an additional 154 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in shares of PTC during the 1st quarter worth $26,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PTC by 20.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock worth $2,091,000 after acquiring an additional 2,285 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PTC has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, July 29th. UBS Group reaffirmed a "buy" rating on shares of PTC in a report on Tuesday, July 29th. KeyCorp reaffirmed an "overweight" rating and set a $245.00 price objective (up from $192.00) on shares of PTC in a report on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their price target on shares of PTC from $224.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.71.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $204.81 on Friday. The company has a market cap of $24.53 billion, a price-to-earnings ratio of 48.30, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The company has a 50-day moving average price of $206.62 and a 200-day moving average price of $186.32. 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 Inc. has a 12 month low of $133.38 and a 12 month high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate 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 net margin of 20.74% and a return on equity of 17.09%. The company's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. As a group, equities analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction 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 represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.