PTC Inc. (NASDAQ:PTC) Shares Acquired by Tributary Capital Management LLC

Tributary Capital Management LLC grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 40.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,941 shares of the technology company’s stock after purchasing an additional 1,989 shares during the quarter. Tributary Capital Management LLC’s holdings in PTC were worth $1,276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Covestor Ltd raised its stake 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 buying an additional 80 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of PTC in the 3rd quarter valued at approximately $66,000. Park Place Capital Corp purchased a new position in shares of PTC in the 3rd quarter valued at approximately $67,000. Blue Trust Inc. boosted its stake in PTC by 473.9% in the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after purchasing an additional 654 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PTC during the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Down 0.1 %

Shares of NASDAQ PTC opened at $188.96 on Friday. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The company’s 50-day simple moving average is $191.14 and its 200-day simple moving average is $183.08. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 60.76, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18.

Insider Buying and Selling

In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock worth $3,630,716. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

PTC has been the subject of several research reports. Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $207.54.

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.