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

Tributary Capital Management LLC reduced its holdings in shares of PTC Inc. (NASDAQ:PTC) by 22.9% in the first quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in PTC by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after purchasing an additional 859,227 shares during the period. Wellington Management Group LLP lifted its stake in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after buying an additional 1,569,081 shares in the last quarter. Franklin Resources Inc. boosted its holdings in PTC by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock worth $208,600,000 after buying an additional 13,468 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PTC by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after buying an additional 26,761 shares in the last quarter. Finally, Twin Focus Capital Partners LLC purchased a new position in shares of PTC in the fourth quarter valued at about $177,081,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 1.1 %

Shares of PTC opened at $183.09 on Tuesday. 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. The company has a 50-day moving average of $178.08 and a 200 day moving average of $179.03. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24.

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

Analysts Set New Price Targets

PTC has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Friday, April 12th. Barclays raised their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Mizuho reaffirmed a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Robert W. Baird lifted their price objective on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.73.

Insiders Place Their Bets

In other PTC news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the completion of the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Catherine Kniker sold 1,254 shares of PTC stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at $9,734,056.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,846 shares of company stock valued at $2,137,631. Company insiders own 1.17% of the company’s stock.

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.