PTC Inc. $PTC Position Lessened by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD significantly reduced its holdings in PTC Inc. by 72.3%, selling 1,848,348 shares and owning approximately 707,090 shares valued at $109.57 million.
• Wall Street analysts are optimistic about PTC’s growth, with twelve analysts rating it as "Buy" or "Overweight" and setting target prices ranging from $120 to $245.
• PTC reported strong financial results for the last quarter, with an EPS of $1.64, beating estimates and reflecting a 24.2% increase in revenue year-over-year.

Price T Rowe Associates Inc. MD reduced its position in PTC Inc. (NASDAQ:PTC - Free Report) by 72.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 707,090 shares of the technology company's stock after selling 1,848,348 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.59% of PTC worth $109,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings in shares of PTC by 15.5% during the first quarter. Brooklyn Investment Group now owns 439 shares of the technology company's stock valued at $68,000 after purchasing an additional 59 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of PTC by 2.1% during the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after purchasing an additional 61 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of PTC by 1.9% during the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after purchasing an additional 70 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PTC by 3.3% during the first quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock valued at $352,000 after purchasing an additional 73 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in shares of PTC by 2.4% during the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after purchasing an additional 78 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PTC. Piper Sandler upped their target price on PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Robert W. Baird upped their target price on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Cantor Fitzgerald set a $120.00 target price on PTC and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of PTC in a report on Tuesday, July 29th. Finally, UBS Group reissued a "buy" rating on shares of PTC in a report on Tuesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.14.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction on 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 owned 15,743 shares in the company, valued at approximately $3,405,053.47. This represents a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.

PTC Stock Performance

PTC stock traded down $1.50 on Thursday, reaching $215.03. The company's stock had a trading volume of 526,004 shares, compared to its average volume of 957,448. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The company has a market capitalization of $25.76 billion, a P/E ratio of 50.71, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17. The firm has a fifty day moving average of $197.13 and a two-hundred day moving average of $173.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 17.09% and a net margin of 20.74%.The firm's revenue for the quarter 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, analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

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.