Strs Ohio Makes New Investment in PTC Inc. $PTC

Key Points

• Strs Ohio acquired 27,537 shares of PTC Inc., valued at approximately $4.27 million, marking a significant new investment during the first quarter of 2023.
• A recent evaluation by Wall Street analysts revealed a mix of rating changes for PTC, with some firms lowering their ratings while others maintained or upgraded their buy ratings, indicating mixed sentiments in the market.
• In its last earnings report, PTC Inc. reported $1.64 EPS, exceeding analysts’ expectations and demonstrating strong revenue growth of 24.2% compared to the same quarter last year.

Strs Ohio purchased a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,537 shares of the technology company's stock, valued at approximately $4,267,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in shares of PTC by 6.6% during the 4th quarter. Cetera Investment Advisers now owns 5,794 shares of the technology company's stock worth $1,065,000 after acquiring an additional 358 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of PTC during the 4th quarter worth about $227,000. Gotham Asset Management LLC boosted its stake in shares of PTC by 58.4% during the 4th quarter. Gotham Asset Management LLC now owns 6,529 shares of the technology company's stock worth $1,200,000 after acquiring an additional 2,407 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of PTC by 20.7% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,998 shares of the technology company's stock worth $919,000 after acquiring an additional 858 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of PTC during the 4th quarter worth about $727,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value 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 $3,405,053.47. The trade was a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTC. Wall Street Zen lowered shares of PTC from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. UBS Group reiterated a "buy" rating on shares of PTC in a report on Tuesday, July 29th. KeyCorp reiterated an "overweight" rating and issued a $245.00 price objective (up previously from $192.00) on shares of PTC in a report on Thursday, July 31st. Stifel Nicolaus increased their price objective on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $202.14.

PTC Stock Performance

Shares of PTC stock opened at $205.11 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The stock has a market capitalization of $24.57 billion, a PE ratio of 48.38, a P/E/G ratio of 2.18 and a beta of 1.18. The firm has a 50 day moving average of $205.78 and a two-hundred day moving average of $176.57.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. PTC has set its FY 2025 guidance at 6.630-7.030 EPS. Q4 2025 guidance at 2.100-2.500 EPS. On average, research 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.

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