Clovis Capital Management Lp Lowers stake in PTC Inc (PTC)

PTC Inc (PTC) : Clovis Capital Management Lp reduced its stake in PTC Inc by 6.71% during the most recent quarter end. The investment management company now holds a total of 397,073 shares of PTC Inc which is valued at $16,542,061 after selling 28,563 shares in PTC Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.PTC Inc makes up approximately 11.61% of Clovis Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Raymond James Associates reduced its stake in PTC by selling 1,290 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 53,471 shares of PTC which is valued at $2,227,602. PTC Inc makes up approx 0.01% of Raymond James Associates’s portfolio.New York State Common Retirement Fund boosted its stake in PTC in the latest quarter, The investment management firm added 9,500 additional shares and now holds a total of 272,600 shares of PTC Inc which is valued at $11,356,516. PTC Inc makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.Louisiana State Employees Retirement System reduced its stake in PTC by selling 1,300 shares or 4.09% in the most recent quarter. The Hedge Fund company now holds 30,500 shares of PTC which is valued at $1,228,845. PTC Inc makes up approx 0.06% of Louisiana State Employees Retirement System’s portfolio.New York State Teachers Retirement System reduced its stake in PTC by selling 5,600 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 205,384 shares of PTC which is valued at $8,328,321. PTC Inc makes up approx 0.02% of New York State Teachers Retirement System’s portfolio.Cutler Group Lp boosted its stake in PTC in the latest quarter, The investment management firm added 5,170 additional shares and now holds a total of 5,195 shares of PTC Inc which is valued at $198,865. PTC Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.

PTC Inc opened for trading at $42.33 and hit $42.56 on the upside on Tuesday, eventually ending the session at $42.55, with a gain of 1.17% or 0.49 points. The heightened volatility saw the trading volume jump to 3,42,488 shares. Company has a market cap of $4,891 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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