Patton Fund Management Inc. Acquires New Holdings in PTC Inc. $PTC

Key Points

• Patton Fund Management Inc. has acquired a new stake in PTC Inc., purchasing 1,429 shares valued at approximately $246,000 in the 2nd quarter.
• Major hedge funds, including T. Rowe Price and Vanguard Group, have significantly increased their holdings in PTC, which is now owned 95.14% by institutional investors.
• Analysts have recently upgraded their ratings for PTC, with KeyCorp setting a new price target of $245, reflecting strong confidence in the company's future performance.

Patton Fund Management Inc. acquired a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,429 shares of the technology company's stock, valued at approximately $246,000.

Several other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in PTC by 17.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares in the last quarter. Vanguard Group Inc. grew its stake in PTC by 0.3% during the first quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock valued at $2,220,771,000 after acquiring an additional 39,688 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in 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 valued at $445,687,000 after acquiring an additional 844,418 shares in the last quarter. Wellington Management Group LLP grew its stake in PTC by 1.9% during the first quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock valued at $367,382,000 after acquiring an additional 44,961 shares in the last quarter. Finally, Nuveen LLC purchased a new position in PTC during the first quarter valued at approximately $241,789,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on PTC shares. KeyCorp reaffirmed an "overweight" rating and set a $245.00 price objective (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. 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. BMO Capital Markets increased their price target on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of PTC from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 20th. Finally, Barclays set a $233.00 price target on shares of PTC in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $202.14.

PTC Price Performance

Shares of PTC stock opened at $202.96 on Friday. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $219.69. The stock has a market capitalization of $24.31 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18. The company has a fifty day moving average of $208.14 and a 200-day moving average of $179.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (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 analysts' expectations of $582.12 million. During the same quarter in the prior year, the company earned $0.98 EPS. The firm's 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 expect that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the company's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

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