Proficio Capital Partners LLC Acquires Shares in PTC Inc. (NASDAQ:PTC)

Proficio Capital Partners LLC has taken a significant step by acquiring a new position in PTC Inc. (NASDAQ:PTC) during the fourth quarter of the year. According to reports from HoldingsChannel, the firm purchased 48,174 shares of PTC, with the total value of this transaction amounting to approximately $8,858,000.

In addition to Proficio's investment, other hedge funds have also adjusted their stakes in PTC Inc. For example, M&T Bank Corp increased its shareholding in PTC by 13.7% in the fourth quarter. After buying an additional 1,061 shares, M&T Bank now holds 8,798 shares valued at around $1,618,000.

Furthermore, Atria Investments Inc. raised its position by 10.5%, resulting in ownership of 2,714 shares worth $499,000 after acquiring 259 additional shares during the same quarter. Assetmark Inc. made a remarkable increase of 825.0% in its stake, now owning 333 shares valued at $61,000 after purchasing 297 more shares in the last quarter.

Charles Schwab Investment Management Inc. also elevated its investment by 4.6%, now owning 821,962 shares worth $151,134,000 after obtaining an additional 36,231 shares in the latest quarter. Lastly, Unified Investment Management entered into a new investment in PTC during the fourth quarter, valued at approximately $693,000. It is noteworthy that institutional investors collectively own about 95.14% of the stock.

Recent Changes in Analyst Ratings

Various research firms have recently analyzed PTC, with notable changes in their ratings. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a note released on March 9. However, Citigroup decreased their price target for PTC from $200.00 to $195.00 and assigned a "neutral" rating in a report on February 5.

On the other hand, Rosenblatt Securities reaffirmed a "buy" rating with a target price of $204.00. JPMorgan Chase & Co. increased their price target from $200.00 to $210.00, giving the stock an "overweight" rating in December. Stifel Nicolaus also raised their price target from $200.00 to $230.00, continuing to endorse a "buy" rating.

The general sentiment regarding PTC shares appears optimistic, as four research analysts have given it a hold rating, while eight have recommended a buy. According to data from MarketBeat.com, PTC currently holds an average rating of "Moderate Buy" with a consensus price target of $210.09.

Current Performance of PTC Stock

As of Friday, shares of PTC (NASDAQ:PTC) opened at $155.80. The company boasts a market capitalization of $18.75 billion, with a P/E ratio standing at 48.09 and a PEG ratio of 2.27. The stock has a beta of 1.22, with the fifty-day moving average recorded at $174.75 and the two-hundred-day moving average at $181.81. PTC has demonstrated variability, documented with a 52-week low of $151.80 and a high of $203.09. Financial metrics show a debt-to-equity ratio of 0.32, alongside both a quick ratio and current ratio of 0.69.

PTC Inc. last shared its quarterly earnings data on February 5. The technology company reported earnings of $0.79 per share, which fell short of analyst expectations of $0.91 by $0.12. PTC's net margin was recorded at 16.95%, with a return on equity of 14.49%. Analysts project that PTC Inc. will achieve 4.46 earnings per share for the current fiscal year.

A Brief Overview of PTC Inc.

PTC Inc. is a software company operating across the Americas, Europe, and the Asia Pacific. The company offers solutions such as Windchill, a suite focused on managing all aspects of the product development lifecycle (PLM), enhancing real-time information sharing, data visualization, and collaboration among geographically dispersed teams. PTC also provides ThingWorx, an industrial Internet of Things platform, and ServiceMax, a field service management solution that optimizes asset uptime and enhances technician productivity with mobile tools.

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