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

Otter Creek Advisors LLC lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 36.6% in the third quarter, according to its most recent Form 13F filing with the Securities and 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 accounts for 2.2% of Otter Creek Advisors LLC's portfolio, making the stock its 27th largest position. Otter Creek Advisors LLC's holdings in PTC were worth $3,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Congress Asset Management Co. grew its stake in shares of PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company's stock valued at $119,746,000 after purchasing an additional 586,443 shares during the period. Massachusetts Financial Services Co. MA raised its stake in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company's stock worth $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Railway Pension Investments Ltd bought a new position in shares of PTC during the second quarter valued at $24,416,000. Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of PTC by 13.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company's stock worth $139,670,000 after purchasing an additional 89,678 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of PTC by 46.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company's stock worth $45,990,000 after purchasing an additional 79,855 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PTC shares. StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and reduced their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities reissued a "buy" rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.83.

PTC Stock Up 2.1 %

Shares of PTC traded up $4.08 during mid-day trading on Friday, hitting $196.83. 596,240 shares of the company's stock were exchanged, compared to its average volume of 806,339. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. PTC Inc. has a 52 week low of $153.11 and a 52 week high of $199.48. The company has a market cap of $23.65 billion, a PE ratio of 62.04, a P/E/G ratio of 2.56 and a beta of 1.17. The company has a 50-day simple moving average of $183.85 and a 200 day simple moving average of $179.15.

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.