Otter Creek Advisors LLC Buys 5,122 Shares of PTC Inc. (NASDAQ:PTC)

Otter Creek Advisors LLC grew its stake in PTC Inc. (NASDAQ:PTC) by 36.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,101 shares of the technology company’s stock after purchasing an additional 5,122 shares during the quarter. PTC makes up about 2.2% of Otter Creek Advisors LLC’s holdings, making the stock its 27th largest position. Otter Creek Advisors LLC’s holdings in PTC were worth $3,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PTC. First Horizon Advisors Inc. increased its position in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. Blue Trust Inc. increased its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC during the second quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC during the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of PTC during the second quarter valued at approximately $31,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Price Performance

Shares of NASDAQ PTC opened at $192.95 on Friday. The stock has a market cap of $23.18 billion, a PE ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. PTC Inc. has a fifty-two week low of $152.68 and a fifty-two week high of $199.48. The stock has a fifty day moving average of $183.85 and a 200-day moving average of $179.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78.

About PTC

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.