Tributary Capital Management LLC Purchases 1,989 Shares of PTC Inc. (NASDAQ:PTC)

Tributary Capital Management LLC boosted its position in shares of PTC Inc. (NASDAQ:PTC) by 40.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,941 shares of the technology company’s stock after buying an additional 1,989 shares during the period. Tributary Capital Management LLC’s holdings in PTC were worth $1,276,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PTC. US Bancorp DE grew its position in PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after acquiring an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP lifted its stake in shares of PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in shares of PTC in the 3rd quarter worth approximately $84,549,000. Citigroup Inc. increased its position in shares of PTC by 28.4% during the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after purchasing an additional 32,984 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after buying an additional 135,677 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $188.96 on Friday. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of 60.76, a P/E/G ratio of 2.55 and a beta of 1.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The stock has a fifty day simple moving average of $191.14 and a two-hundred day simple moving average of $183.08.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last three months. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTC. Robert W. Baird lifted their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler increased their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.54.

PTC Profile

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.