Parnassus Investments LLC Boosts Position in PTC Inc. $PTC

Key Points

• Parnassus Investments LLC increased its stake in PTC Inc. by 16.4%, owning approximately 113,747 shares worth around $17.63 million at the end of the first quarter.
• PTC recently reported a 24.2% increase in quarterly revenue year-over-year, with earnings per share of $1.64, exceeding estimates by $0.42.
• Oppenheimer and Royal Bank of Canada both raised their price targets for PTC shares, with Oppenheimer's target increasing from $225 to $240, indicating positive analyst sentiment.

Parnassus Investments LLC grew its position in PTC Inc. (NASDAQ:PTC - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,747 shares of the technology company's stock after purchasing an additional 16,002 shares during the period. Parnassus Investments LLC owned approximately 0.09% of PTC worth $17,625,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related 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 transaction of $429,984.52. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

PTC Price Performance

NASDAQ PTC traded down $0.91 during mid-day trading on Tuesday, hitting $212.59. The stock had a trading volume of 650,640 shares, compared to its average volume of 1,055,149. The firm's 50 day moving average is $199.00 and its 200 day moving average is $173.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.27 and a beta of 1.18. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The company 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 EPS. PTC'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. Equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTC. Oppenheimer increased their price target on shares of PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group reiterated a "buy" rating on shares of PTC in a research report on Tuesday, July 29th. Barclays set a $233.00 target price on shares of PTC in a research note on Thursday, July 31st. Stifel Nicolaus lifted their price target on PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of PTC in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.