Proficio Capital Partners LLC Invests $8.86 Million in PTC Inc. (NASDAQ:PTC)

Proficio Capital Partners LLC purchased a new stake in PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 48,174 shares of the technology company’s stock, valued at approximately $8,858,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP boosted its position in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Covestor Ltd boosted its holdings in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. increased its position in PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after purchasing an additional 297 shares during the period. Brooklyn Investment Group bought a new stake in PTC during the 3rd quarter worth about $66,000. Finally, Smartleaf Asset Management LLC lifted its position in PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PTC shares. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Sunday, March 9th. JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Citigroup decreased their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.09.

PTC Trading Up 1.6 %

NASDAQ:PTC opened at $155.80 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day simple moving average is $174.75 and its 200-day simple moving average is $181.81. PTC Inc. has a fifty-two week low of $151.80 and a fifty-two week high of $203.09. The stock has a market capitalization of $18.75 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal 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.