Palestra Capital Management LLC Grows Stake in PTC Inc. $PTC

Key Points

• Palestra Capital Management LLC increased its stake in PTC Inc. by 21.7% during Q1, holding 1,113,417 shares valued at approximately $172.52 million, making it the firm's 3rd biggest position.
• Analysts have a consensus rating of "Moderate Buy" for PTC, with the average price target rising to $202.14, reflecting several institutions upgrading their price targets recently.
• PTC's most recent earnings report showed a better-than-expected earnings per share of $1.64, exceeding analysts' estimates by $0.42, and a revenue of $643.94 million, up 24.2% year-over-year.

Palestra Capital Management LLC grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,113,417 shares of the technology company's stock after acquiring an additional 198,469 shares during the period. PTC accounts for 6.8% of Palestra Capital Management LLC's portfolio, making the stock its 3rd largest holding. Palestra Capital Management LLC owned 0.93% of PTC worth $172,524,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PTC. Bartlett & CO. Wealth Management LLC bought a new position in PTC in the 1st quarter worth $26,000. Motco purchased a new stake in PTC in the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of PTC in the first quarter worth about $33,000. Zions Bancorporation National Association UT bought a new position in shares of PTC in the first quarter worth about $39,000. Finally, Pinney & Scofield Inc. bought a new position in shares of PTC during the 4th quarter valued at approximately $47,000. Institutional investors own 95.14% of the company's stock.

PTC Price Performance

Shares of NASDAQ:PTC traded up $2.53 during mid-day trading on Thursday, reaching $207.03. The stock had a trading volume of 778,805 shares, compared to its average volume of 1,051,261. The business's 50 day moving average price is $204.55 and its 200 day moving average price is $175.78. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a market cap of $24.80 billion, a P/E ratio of 48.83, a price-to-earnings-growth ratio of 2.17 and a beta of 1.18. 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 (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million for 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 company's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction 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 transaction, the executive vice president directly owned 15,743 shares of the company's stock, valued at $3,405,053.47. This trade represents a 11.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price target on shares of PTC in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their target price on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Stifel Nicolaus increased their price target on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Oppenheimer boosted their price objective on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays set a $233.00 target price on PTC in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

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.