Entropy Technologies LP Buys New Shares in PTC Inc. (NASDAQ:PTC)

Entropy Technologies LP purchased a new position in PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,886 shares of the technology company’s stock, valued at approximately $1,450,000.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of PTC by 13.0% during the 4th quarter. Empowered Funds LLC now owns 2,423 shares of the technology company’s stock valued at $446,000 after purchasing an additional 279 shares during the period. Lecap Asset Management Ltd. purchased a new stake in PTC in the 4th quarter worth $3,150,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in PTC by 23.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,315 shares of the technology company’s stock valued at $3,000,000 after acquiring an additional 3,101 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of PTC by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 805,663 shares of the technology company’s stock valued at $148,137,000 after acquiring an additional 22,586 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of PTC during the fourth quarter worth about $364,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTC. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. KeyCorp boosted their price target on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PTC has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Activity

In other PTC news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by company insiders.

PTC Trading Down 1.5 %

PTC opened at $169.02 on Monday. PTC Inc. has a 12 month low of $163.30 and a 12 month high of $203.09. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $189.31 and a 200 day moving average of $183.62. The firm has a market cap of $20.34 billion, a P/E ratio of 52.17, a P/E/G ratio of 2.33 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its 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%. As a group, research analysts forecast that PTC Inc. will post 4.62 EPS for the current 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.