Proficio Capital Partners LLC Buys New Position in PTC Inc. (NASDAQ:PTC)

Proficio Capital Partners LLC purchased a new position in shares of PTC Inc. (NASDAQ:PTC) in the fourth quarter, HoldingsChannel reports. The fund purchased 48,174 shares of the technology company’s stock, valued at approximately $8,858,000.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp boosted its stake in shares of PTC by 13.7% during the 4th quarter. M&T Bank Corp now owns 8,798 shares of the technology company’s stock worth $1,618,000 after buying an additional 1,061 shares during the last quarter. Atria Investments Inc boosted its position in PTC by 10.5% during the fourth quarter. Atria Investments Inc now owns 2,714 shares of the technology company’s stock valued at $499,000 after purchasing an additional 259 shares during the last quarter. Assetmark Inc. grew its stake in PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after purchasing an additional 297 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PTC by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company’s stock worth $151,134,000 after purchasing an additional 36,231 shares during the last quarter. Finally, Unified Investment Management bought a new stake in shares of PTC during the 4th quarter worth approximately $693,000. 95.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

PTC Stock Up 1.6 %

Shares of NASDAQ PTC opened at $155.80 on Friday. The stock has a market capitalization of $18.75 billion, a P/E ratio of 48.09, a PEG ratio of 2.27 and a beta of 1.22. The stock’s fifty day moving average is $174.75 and its 200 day moving average is $181.81. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) 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 forecast 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.