Pacific Grove Capital Lp Lowers stake in PTC Inc (PTC)

PTC Inc (PTC) : Pacific Grove Capital Lp reduced its stake in PTC Inc by 4.06% during the most recent quarter end. The investment management company now holds a total of 373,475 shares of PTC Inc which is valued at $17,773,675 after selling 15,800 shares in PTC Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.PTC Inc makes up approximately 8.82% of Pacific Grove Capital Lp’s portfolio.

Other Hedge Funds, Including , Fil Ltd boosted its stake in PTC in the latest quarter, The investment management firm added 92,208 additional shares and now holds a total of 344,752 shares of PTC Inc which is valued at $16,406,748. PTC Inc makes up approx 0.05% of Fil Ltd’s portfolio.Atlantic Trust Group boosted its stake in PTC in the latest quarter, The investment management firm added 3,458 additional shares and now holds a total of 225,726 shares of PTC Inc which is valued at $10,597,836. PTC Inc makes up approx 0.07% of Atlantic Trust Group’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in PTC in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 51,460 shares of PTC Inc which is valued at $2,333,711. PTC Inc makes up approx 0.13% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Ubs Asset Management Americas Inc boosted its stake in PTC in the latest quarter, The investment management firm added 1,141 additional shares and now holds a total of 87,144 shares of PTC Inc which is valued at $3,836,079.

PTC Inc closed down -0.33 points or -0.67% at $48.68 with 13,86,791 shares getting traded on Monday. Post opening the session at $48.95, the shares hit an intraday low of $48.26 and an intraday high of $49.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PTC Inc reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $0.27. The company had revenue of $288.20 million for the quarter, compared to analysts expectations of $291.50 million. The company’s revenue was down -7.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on PTC Inc. Company shares were Reiterated by RBC Capital Mkts on Nov 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $53 .Company shares were Reiterated by Wedbush on Nov 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $54 .PTC Inc was Initiated by Goldman to “Buy” on Nov 4, 2016.

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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