Otter Creek Advisors LLC Has $3.53 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Otter Creek Advisors LLC increased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,181 shares of the technology company’s stock after buying an additional 80 shares during the quarter. PTC accounts for approximately 2.4% of Otter Creek Advisors LLC’s holdings, making the stock its 25th largest holding. Otter Creek Advisors LLC’s holdings in PTC were worth $3,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of 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 period. Allworth Financial LP boosted its stake in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the period. Brooklyn Investment Group bought a new position in PTC during the 3rd quarter worth about $66,000. Sentry Investment Management LLC acquired a new stake in shares of PTC in the 4th quarter valued at about $84,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PTC in the third quarter valued at about $152,000. 95.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PTC has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. KeyCorp lifted their price objective on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

PTC opened at $163.03 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 12-month low of $160.53 and a 12-month high of $203.09. The business has a 50 day moving average of $180.94 and a 200-day moving average of $183.08. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

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.