Wealthfront Advisers LLC Has $2.89 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Wealthfront Advisers LLC boosted its holdings in PTC Inc. (NASDAQ:PTC) by 1,264.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,696 shares of the technology company’s stock after purchasing an additional 14,546 shares during the period. Wealthfront Advisers LLC’s holdings in PTC were worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Allworth Financial LP boosted its holdings 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 purchasing an additional 69 shares during the period. Assetmark Inc. grew its position in PTC by 825.0% in the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after purchasing an additional 297 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of PTC during the 3rd quarter worth about $66,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock worth $83,000 after purchasing an additional 205 shares during the period. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

PTC stock opened at $153.30 on Friday. The firm has a market capitalization of $18.45 billion, a P/E ratio of 47.31, a P/E/G ratio of 2.27 and a beta of 1.22. The stock has a fifty day moving average price of $175.33 and a two-hundred day moving average price of $181.91. 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 current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC) last announced its earnings results 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 return on equity of 14.49% and a net margin of 16.95%. As a group, analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PTC shares. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Stifel Nicolaus raised their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. KeyCorp lifted their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their target price on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

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.