Traders Are Bullish PTC Inc. (PTC) After The Stock Formed Wedge Up Chart Pattern

April 24, 2018 - By Winifred Garcia

PTC Inc. (NASDAQ:PTC) Logo

Investors sentiment increased to 1.07 in Q4 2017. Its up 0.01, from 1.06 in 2017Q3. It increased, as 34 investors sold PTC Inc. shares while 106 reduced holdings. 58 funds opened positions while 92 raised stakes. 86.60 million shares or 0.81% less from 87.30 million shares in 2017Q3 were reported.
Fred Alger Mngmt Inc holds 0.04% in PTC Inc. (NASDAQ:PTC) or 150,093 shares. Optimum Investment Advsr has invested 0.08% in PTC Inc. (NASDAQ:PTC). State Bank Of Ny Mellon Corporation has 12,463 shares for 0% of their portfolio. Moreover, Contravisory Mngmt Incorporated has 1.57% invested in PTC Inc. (NASDAQ:PTC) for 71,410 shares. Matarin Cap Lc owns 11,167 shares. Winslow Evans Crocker has invested 0% in PTC Inc. (NASDAQ:PTC). California-based Covington Cap Mgmt has invested 0% in PTC Inc. (NASDAQ:PTC). Highbridge Cap Ltd Company reported 0.01% in PTC Inc. (NASDAQ:PTC). Dupont Capital Mgmt Corporation owns 9,133 shares. Massmutual Tru Fsb Adv owns 18 shares. Morgan Stanley invested in 0% or 636 shares. Public Employees Retirement Association Of Colorado holds 338,810 shares. Glenmede Trust Communications Na reported 0% stake. Epoch Investment Ptnrs reported 5.86M shares or 1.18% of all its holdings. Toronto Dominion State Bank has 2,475 shares.

The stock of PTC Inc. (PTC) formed an up wedge with $87.51 target or 3.00 % above today’s $84.96 share price. The 7 months wedge indicates low risk for the $9.88B company. If the $87.51 price target is reached, the company will be worth $296.37 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 1.08% or $0.91 during the last trading session, reaching $84.96. About 1.11M shares traded or 21.62% up from the average. PTC Inc. (NASDAQ:PTC) has risen 49.73% since April 24, 2017 and is uptrending. It has outperformed by 38.18% the S&P500.

PTC Inc. (NASDAQ:PTC) Ratings Coverage

Among 10 analysts covering PTC (NASDAQ:PTC), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. PTC had 23 analyst reports since October 26, 2017 according to SRatingsIntel. J.P. Morgan downgraded PTC Inc. (NASDAQ:PTC) rating on Tuesday, December 12. J.P. Morgan has “Hold” rating and $68.0 target. As per Thursday, January 18, the company rating was maintained by RBC Capital Markets. The stock of PTC Inc. (NASDAQ:PTC) earned “Buy” rating by Robert W. Baird on Thursday, January 25. The firm has “Hold” rating by Guggenheim given on Thursday, January 18. Seaport Global maintained the shares of PTC in report on Thursday, January 18 with “Buy” rating. The firm has “Overweight” rating given on Friday, March 9 by KeyBanc Capital Markets. As per Thursday, April 19, the company rating was maintained by Robert W. Baird. The firm earned “Buy” rating on Thursday, January 18 by Wedbush. Guggenheim maintained PTC Inc. (NASDAQ:PTC) rating on Wednesday, January 10. Guggenheim has “Hold” rating and $60.0 target. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Thursday, April 19.

PTC Inc. (NASDAQ:PTC) Institutional Positions Chart

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