Tributary Capital Management LLC Grows Position in PTC Inc. $PTC

Tributary Capital Management LLC grew its holdings in PTC Inc. (NASDAQ:PTC) by 58.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,362 shares of the technology company’s stock after buying an additional 4,953 shares during the period. Tributary Capital Management LLC’s holdings in PTC were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTC. SJS Investment Consulting Inc. raised its holdings in PTC by 2,257.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock valued at $34,000 after acquiring an additional 158 shares during the last quarter. Assetmark Inc. lifted its position in PTC by 339.3% during the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock worth $46,000 after buying an additional 207 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after buying an additional 76 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in PTC in the 2nd quarter valued at $53,000. Finally, MUFG Securities EMEA plc purchased a new stake in PTC in the 2nd quarter valued at $61,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Down 0.3%

NASDAQ:PTC opened at $174.57 on Thursday. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The stock’s fifty day moving average is $177.08 and its two-hundred day moving average is $192.75. The stock has a market capitalization of $20.76 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. Research analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on PTC shares. Zacks Research lowered PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. BMO Capital Markets reduced their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Piper Sandler dropped their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of PTC in a report on Monday, December 29th. Finally, Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.92.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the sale, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,277 shares of company stock worth $10,624,076 over the last 90 days. Company insiders own 0.29% of the company’s stock.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.