Brant Point Investment Management LLC Lowers Position in PTC Inc. (NASDAQ:PTC)

Brant Point Investment Management LLC decreased its position in PTC Inc. (NASDAQ:PTC) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the technology company’s stock after selling 3,000 shares during the quarter. PTC makes up approximately 0.9% of Brant Point Investment Management LLC’s portfolio, making the stock its 14th largest position. Brant Point Investment Management LLC’s holdings in PTC were worth $7,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after acquiring an additional 240,080 shares during the period. Geode Capital Management LLC grew its holdings in PTC by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock valued at $555,626,000 after purchasing an additional 67,504 shares during the period. Franklin Resources Inc. increased its position in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares during the last quarter. FIL Ltd raised its stake in shares of PTC by 0.4% in the fourth quarter. FIL Ltd now owns 1,090,175 shares of the technology company’s stock valued at $200,450,000 after buying an additional 4,396 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of PTC by 6.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 986,835 shares of the technology company’s stock worth $181,449,000 after acquiring an additional 62,379 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 0.3 %

PTC stock opened at $143.56 on Friday. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $157.12 and its 200 day moving average is $177.59.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Citigroup lowered their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. BMO Capital Markets lowered their target price on shares of PTC from $220.00 to $183.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, KeyCorp cut their price target on PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.67.

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.