Resona Asset Management Co. Ltd. Buys 1,536 Shares of PTC Inc. $PTC

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in PTC Inc. by 3.9%, acquiring a total of 40,768 shares valued at approximately $6.32 million.
• Analysts have raised their price targets for PTC, with BMO Capital Markets projecting a target increase from $187.00 to $231.00, indicating a positive outlook for the stock.
• PTC reported strong quarterly earnings, with earnings per share of $1.64, exceeding expectations, and a year-over-year revenue increase of 24.2%.

Resona Asset Management Co. Ltd. raised its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,768 shares of the technology company's stock after purchasing an additional 1,536 shares during the period. Resona Asset Management Co. Ltd.'s holdings in PTC were worth $6,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of PTC in the 1st quarter worth about $26,000. Motco purchased a new stake in shares of PTC during the first quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of PTC during the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new stake in PTC during the first quarter worth $39,000. Finally, Pinney & Scofield Inc. bought a new stake in PTC during the fourth quarter worth $47,000. Institutional investors own 95.14% of the company's stock.

PTC Stock Performance

NASDAQ PTC traded up $0.44 during trading hours on Tuesday, hitting $208.75. The company's stock had a trading volume of 179,317 shares, compared to its average volume of 1,069,235. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company's 50 day simple moving average is $190.12 and its two-hundred day simple moving average is $171.15. 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 market cap of $25.01 billion, a P/E ratio of 49.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $582.12 million. During the same quarter in the prior year, the business earned $0.98 EPS. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. 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 expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 directly owned 15,743 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PTC has been the topic of several research reports. UBS Group reaffirmed a "buy" rating on shares of PTC in a research report on Tuesday, July 29th. Cantor Fitzgerald set a $120.00 target price on PTC and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, July 29th. Stifel Nicolaus boosted their target price on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

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.