PNC Financial Services Group Inc. Reduces Position in PTC Inc. $PTC

Key Points

• PNC Financial Services cut its PTC position by 35.9% in the first quarter, selling 14,104 shares and retaining 25,176 shares worth approximately $3.6 million. Institutional investors and hedge funds collectively own 95.14% of PTC.
• Analysts maintain a “Moderate Buy” consensus on PTC, with a consensus price target of $169.00; recent targets range from $155 to $198.
• PTC exceeded quarterly expectations, reporting $2.69 in EPS and $774.3 million in revenue, with revenue up 21.7% year over year. Shares opened at $125.21, near the lower end of their 52-week range.

PNC Financial Services Group Inc. decreased its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 35.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,176 shares of the technology company's stock after selling 14,104 shares during the quarter. PNC Financial Services Group Inc.'s holdings in PTC were worth $3,587,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PTC. Oslo Pensjonsforsikring AS purchased a new stake in PTC during the 1st quarter valued at about $206,000. Andra AP fonden lifted its stake in PTC by 766.4% in the 1st quarter. Andra AP fonden now owns 50,250 shares of the technology company's stock worth $7,160,000 after purchasing an additional 44,450 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in PTC by 7.5% in the 1st quarter. Van Berkom & Associates Inc. now owns 8,886 shares of the technology company's stock worth $1,266,000 after purchasing an additional 618 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of PTC by 54.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,237 shares of the technology company's stock worth $461,000 after purchasing an additional 1,137 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of PTC by 4.2% during the 1st quarter. WCM Investment Management LLC now owns 8,210 shares of the technology company's stock worth $1,147,000 after purchasing an additional 333 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the subject of several recent research reports. BMO Capital Markets set a $155.00 price target on PTC in a report on Friday. Robert W. Baird set a $198.00 price objective on PTC in a research note on Thursday, May 7th. Weiss Ratings cut PTC from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Berenberg Bank set a $170.00 target price on PTC in a research note on Wednesday, May 27th. Finally, Citigroup lifted their price target on PTC from $146.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PTC presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.00.

Insider Activity at PTC

In other news, CAO Alice Christenson sold 816 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $145.82, for a total value of $118,989.12. Following the transaction, the chief accounting officer owned 1,265 shares of the company's stock, valued at $184,462.30. This represents a 39.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

PTC Stock Up 5.6%

Shares of NASDAQ PTC opened at $125.21 on Tuesday. The company has a market capitalization of $14.46 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50 day simple moving average of $126.95 and a 200-day simple moving average of $142.79. PTC Inc. has a 1 year low of $108.50 and a 1 year high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.63. The firm had revenue of $774.30 million for the quarter, compared to analysts' expectations of $712.40 million. PTC had a return on equity of 25.84% and a net margin of 41.81%.The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 earnings per share. PTC has set its FY 2026 guidance at 6.650-8.900 EPS and its Q3 2026 guidance at 1.240-1.780 EPS. On average, equities research analysts predict that PTC Inc. will post 6.35 earnings per share for the current year.

PTC Company Profile

PTC Inc NASDAQ: PTC is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.

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