Renaissance Technologies LLC Buys 183,600 Shares of PTC Inc. $PTC

Key Points

• Renaissance Technologies increased its PTC stake by 89.3% in the first quarter, buying 183,600 additional shares to hold 389,100 shares worth approximately $55.4 million. Institutional investors collectively own 95.14% of PTC.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $169.00, despite targets ranging from $155 to $198.
• PTC reported strong quarterly results, including $2.69 in EPS versus a $2.06 estimate and $774.3 million in revenue, up 21.7% year over year. Shares opened at $118.52, well below their 52-week high of $219.69.

Renaissance Technologies LLC grew its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 89.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 389,100 shares of the technology company's stock after buying an additional 183,600 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of PTC worth $55,443,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC raised its holdings in PTC by 3.1% in the 1st quarter. Empowered Funds LLC now owns 2,498 shares of the technology company's stock valued at $387,000 after acquiring an additional 75 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company's stock valued at $46,000 after purchasing an additional 76 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of PTC by 68.7% during the second quarter. EverSource Wealth Advisors LLC now owns 705 shares of the technology company's stock valued at $121,000 after purchasing an additional 287 shares during the period. Cerity Partners LLC acquired a new position in shares of PTC in the second quarter valued at $257,000. Finally, Alliancebernstein L.P. raised its stake in shares of PTC by 3.2% in the second quarter. Alliancebernstein L.P. now owns 132,962 shares of the technology company's stock valued at $22,915,000 after purchasing an additional 4,176 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

PTC has been the topic of a number of recent research reports. Berenberg Bank set a $170.00 price target on shares of PTC in a research note on Wednesday, May 27th. BMO Capital Markets set a $155.00 price objective on shares of PTC in a research note on Friday. Weiss Ratings downgraded shares of PTC from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Robert W. Baird set a $198.00 target price on shares of PTC in a research report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $190.00 target price on shares of PTC in a research note on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $169.00.

PTC Price Performance

Shares of PTC stock opened at $118.52 on Monday. The stock's fifty day simple moving average is $127.33 and its 200 day simple moving average is $143.14. PTC Inc. has a one year low of $108.50 and a one year high of $219.69. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 11.31, 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.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.63. PTC had a return on equity of 25.84% and a net margin of 41.81%.The firm had revenue of $774.30 million during the quarter, compared to analyst estimates of $712.40 million. During the same period in the prior year, the company posted $1.79 earnings per share. The business's revenue for the quarter was up 21.7% compared to the same quarter last year. 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, analysts expect that PTC Inc. will post 6.35 earnings per share for the current fiscal year.

Insider Activity

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

About PTC

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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