Taikang Asset Management Hong Kong Co Ltd Purchases New Position in PTC Inc. $PTC

Key Points

• Taikang Asset Management Hong Kong has invested $7.42 million in PTC Inc., acquiring 47,913 shares which represent about 1% of their overall holdings.
• PTC's stock is currently drawing positive attention from analysts, with an average target price of $202.14 and multiple firms issuing a "buy" rating.
• In its latest earnings report, PTC reported earnings of $1.64 per share, surpassing estimates and reflecting a significant revenue increase of 24.2% year-over-year.

Taikang Asset Management Hong Kong Co Ltd bought a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,913 shares of the technology company's stock, valued at approximately $7,424,000. PTC accounts for 1.0% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its stake in PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares during the period. Vanguard Group Inc. lifted its stake in shares of PTC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock worth $2,220,771,000 after purchasing an additional 39,688 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after purchasing an additional 844,418 shares during the period. Wellington Management Group LLP lifted its stake in shares of PTC by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock worth $367,382,000 after purchasing an additional 44,961 shares during the period. Finally, Nuveen LLC bought a new position in shares of PTC in the 1st quarter worth approximately $241,789,000. Institutional investors own 95.14% of the company's stock.

PTC Price Performance

PTC stock traded down $1.53 during trading on Friday, reaching $213.50. The company's stock had a trading volume of 1,098,614 shares, compared to its average volume of 1,055,621. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $25.58 billion, a P/E ratio of 50.35, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17. The company's fifty day moving average is $197.13 and its 200-day moving average is $173.11.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%.The business had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. During the same quarter in the prior year, the business posted $0.98 EPS. PTC'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. On average, research analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the sale, the executive vice president directly owned 15,743 shares in the company, valued at approximately $3,405,053.47. The trade was a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PTC shares. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada increased their price objective on shares of PTC from $224.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets increased their price objective on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Oppenheimer increased their price objective on shares of PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird increased their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, PTC has a consensus rating of "Moderate Buy" and an average price target of $202.14.

PTC Company 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.