Adage Capital Partners GP L.L.C. Acquires 7,500 Shares of PTC Inc. (NASDAQ:PTC)

Adage Capital Partners GP L.L.C. increased its holdings in PTC Inc. (NASDAQ:PTC) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,200 shares of the technology company’s stock after buying an additional 7,500 shares during the period. Adage Capital Partners GP L.L.C. owned 0.06% of PTC worth $14,195,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of PTC by 5.0% in 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. boosted its position in shares of PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after acquiring an additional 135,677 shares during the period. Oak Thistle LLC purchased a new position in PTC during the fourth quarter valued at approximately $1,113,000. Proficio Capital Partners LLC purchased a new stake in PTC in the 4th quarter worth approximately $8,858,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of PTC during the 4th quarter valued at $223,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Up 1.6 %

PTC stock opened at $154.03 on Monday. The business has a 50 day moving average of $154.42 and a 200 day moving average of $176.25. The firm has a market cap of $18.53 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PTC. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Oppenheimer dropped their target price on shares of PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday. Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.38.

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.