40 North Management buys $24,705,588 stake in PTC Inc (PTC)

PTC Inc (PTC) : 40 North Management scooped up 100,000 additional shares in PTC Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 593,029 shares of PTC Inc which is valued at $24,705,588.PTC Inc makes up approximately 2.93% of 40 North Management’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. sold out all of its stake in PTC during the most recent quarter. The investment firm sold 33,400 shares of PTC which is valued $1,391,444.Profund Advisors boosted its stake in PTC in the latest quarter, The investment management firm added 1,594 additional shares and now holds a total of 16,722 shares of PTC Inc which is valued at $696,639. PTC Inc makes up approx 0.03% of Profund Advisors’s portfolio.Sg Americas Securities reduced its stake in PTC by selling 11,795 shares or 28.79% in the most recent quarter. The Hedge Fund company now holds 29,178 shares of PTC which is valued at $1,153,990. PTC Inc makes up approx 0.01% of Sg Americas Securities’s portfolio.

PTC Inc opened for trading at $42.62 and hit $42.86 on the upside on Thursday, eventually ending the session at $42.84, with a gain of 0.40% or 0.17 points. The heightened volatility saw the trading volume jump to 7,01,056 shares. Company has a market cap of $4,925 M.

On the company’s financial health, PTC Inc reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $0.31. The company had revenue of $288.65 million for the quarter, compared to analysts expectations of $288.47 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on PTC Inc. Citigroup Initiated PTC Inc on Aug 1, 2016 to “Buy”, Price Target of the shares are set at $48.

PTC Inc. develops and delivers technology solutions comprised of software and services that transform the way customers create and service their products The Company operates in two Software Products which includes license and related support revenue for all its products except training-related products and Services which includes consulting implementation training and license and support revenue for computer-based training products. The Company’s solutions and software products include Computer-Aided Design (CAD) Product Lifecycle Management (PLM) Application Lifecycle Management (ALM) Supply Chain Management (SCM) and Service Lifecycle Management (SLM). The Company generates revenue through the sale of software licenses support and services.

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