Adage Capital Partners GP L.L.C. Trims Stake in PTC Inc. $PTC

Adage Capital Partners GP L.L.C. lowered its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 45.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,300 shares of the technology company's stock after selling 34,900 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in PTC were worth $6,554,000 as of its most recent SEC filing.

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

PTC Price Performance

PTC stock traded down $1.92 during mid-day trading on Friday, reaching $205.11. The company had a trading volume of 520,517 shares, compared to its average volume of 823,465. The stock's 50-day simple moving average is $205.78 and its 200-day simple moving average is $176.38. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. 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 capitalization of $24.57 billion, a P/E ratio of 48.38, a P/E/G ratio of 2.20 and a beta of 1.18.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million for the quarter, compared to analysts' expectations of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%.The company's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm 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, equities analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

PTC has been the subject of several analyst reports. Royal Bank Of Canada upped their price target on PTC from $224.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of PTC from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. KeyCorp restated an "overweight" rating and issued a $245.00 target price (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating on shares of PTC in a research note on Tuesday, July 29th. Finally, Cantor Fitzgerald set a $120.00 price objective on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, PTC presently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total transaction of $429,984.52. Following the completion of the transaction, the executive vice president owned 15,743 shares of the company's stock, valued at $3,405,053.47. The trade was a 11.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is currently 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.