Adage Capital Partners GP L.L.C. Boosts Position in PTC Inc. (NASDAQ:PTC)

Adage Capital Partners GP L.L.C. grew its position in PTC Inc. (NASDAQ:PTC - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,200 shares of the technology company's stock after acquiring an additional 7,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.06% of PTC worth $14,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PTC. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company's stock worth $39,212,000 after acquiring an additional 9,893 shares during the period. JPMorgan Chase & Co. increased its stake in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after buying an additional 135,677 shares during the period. Oak Thistle LLC purchased a new stake in PTC in the fourth quarter worth about $1,113,000. Proficio Capital Partners LLC bought a new position in PTC during the 4th quarter worth about $8,858,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of PTC during the fourth quarter valued at approximately $223,000. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

PTC has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Thursday. Citigroup dropped their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler dropped their target price on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, KeyCorp decreased their price objective on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.15.

PTC Price Performance

PTC stock traded up $3.75 during trading on Friday, reaching $160.09. The company had a trading volume of 852,238 shares, compared to its average volume of 876,414. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The firm's 50-day simple moving average is $153.56 and its 200 day simple moving average is $175.54. The firm has a market capitalization of $19.26 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the prior year, the firm earned $1.46 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by corporate 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.