Victory Capital Management Inc Lowers stake in PTC Inc (PTC)

PTC Inc (PTC) : Victory Capital Management Inc reduced its stake in PTC Inc by 4.0% during the most recent quarter end. The investment management company now holds a total of 4,384,934 shares of PTC Inc which is valued at $182,632,501 after selling 182,775 shares in PTC Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.PTC Inc makes up approximately 0.72% of Victory Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Lapides Asset Management reduced its stake in PTC by selling 27,100 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 554,600 shares of PTC which is valued at $23,099,090. PTC Inc makes up approx 3.80% of Lapides Asset Management’s portfolio.Chartwell Investment Partners boosted its stake in PTC in the latest quarter, The investment management firm added 356,710 additional shares and now holds a total of 518,534 shares of PTC Inc which is valued at $21,166,558. PTC Inc makes up approx 0.36% of Chartwell Investment Partners’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in PTC in the latest quarter, The investment management firm added 17,220 additional shares and now holds a total of 111,089 shares of PTC Inc which is valued at $4,534,653. PTC Inc makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio. Ipswich Investment Management sold out all of its stake in PTC during the most recent quarter. The investment firm sold 1,060 shares of PTC which is valued $41,923.

PTC Inc closed down -0.17 points or -0.41% at $41.46 with 9,32,086 shares getting traded on Wednesday. Post opening the session at $41.58, the shares hit an intraday low of $41.14 and an intraday high of $41.78 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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