Tributary Capital Management LLC Sells 1,626 Shares of PTC Inc. (NASDAQ:PTC)

Tributary Capital Management LLC lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,479 shares of the technology company’s stock after selling 1,626 shares during the period. Tributary Capital Management LLC’s holdings in PTC were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PTC. Lindbrook Capital LLC increased its position in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after acquiring an additional 91 shares during the period. Riverview Trust Co bought a new position in PTC during the 1st quarter worth $34,000. Resources Management Corp CT ADV raised its holdings in PTC by 4,285.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock valued at $43,000 after acquiring an additional 300 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of PTC during the 4th quarter valued at $46,000. Finally, Van ECK Associates Corp grew its holdings in shares of PTC by 26.0% during the 4th quarter. Van ECK Associates Corp now owns 523 shares of the technology company’s stock worth $92,000 after purchasing an additional 108 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PTC. Barclays increased their price objective on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Friday, April 12th. Citigroup dropped their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Mizuho restated a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.73.

Insider Transactions at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the transaction, the director now owns 52,137 shares in the company, valued at $9,290,813.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PTC news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the completion of the sale, the director now directly owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders sold a total of 11,846 shares of company stock valued at $2,137,631 over the last three months. Corporate insiders own 1.17% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $183.09 on Tuesday. The business has a 50-day simple moving average of $178.08 and a 200 day simple moving average of $179.03. PTC Inc. has a one year low of $134.61 and a one year high of $194.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 75.74, a PEG ratio of 3.42 and a beta of 1.18.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The firm had revenue of $603.07 million during the quarter, compared to analysts’ expectations of $575.53 million. On average, research analysts anticipate that PTC Inc. will post 3.48 earnings per share for the current fiscal year.

PTC Company 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.