Select Equity Group L.P. Sells 349,657 Shares of PTC Inc. $PTC

Key Points

• Select Equity Group L.P. sold 36.4% of its shares in PTC Inc., decreasing its holdings to 611,925 shares worth approximately $94.8 million.
• Analysts have a consensus target price of $202.14 for PTC, with 11 analysts giving it a "Buy" rating and several raising their price objectives between $120.00 and $245.00.
• PTC reported strong quarterly earnings, with $1.64 EPS surpassing estimates, and revenue of $643.94 million, a 24.2% year-over-year increase.

Select Equity Group L.P. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 36.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,925 shares of the technology company's stock after selling 349,657 shares during the period. Select Equity Group L.P. owned approximately 0.51% of PTC worth $94,818,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PTC. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 worth $3,147,478,000 after buying an additional 3,048,311 shares during the period. Vanguard Group Inc. increased its position in shares of PTC by 0.3% in 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 during the last quarter. Pictet Asset Management Holding SA increased its position in shares of PTC by 41.6% in 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 during the last quarter. Wellington Management Group LLP increased its position in shares of PTC by 1.9% in 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 during the last quarter. Finally, Nuveen LLC bought a new stake in shares of PTC during the 1st quarter worth approximately $241,789,000. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut PTC from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. Oppenheimer upped their price objective on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Stifel Nicolaus raised their target price on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Cantor Fitzgerald set a $120.00 target price on shares of PTC and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets raised their target price on shares of PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

PTC Stock Performance

PTC stock traded down $2.66 during midday trading on Friday, hitting $204.37. The company's stock had a trading volume of 178,334 shares, compared to its average volume of 1,046,152. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. 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 company has a 50-day moving average price of $205.18 and a two-hundred day moving average price of $176.09. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 2.17 and a beta of 1.18.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. During the same quarter in the previous year, the company earned $0.98 EPS. The business'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. As a group, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the sale, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by insiders.

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.