Brant Point Investment Management LLC Reduces Stake in PTC Inc. (NASDAQ:PTC)

Brant Point Investment Management LLC lowered its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,500 shares of the technology company's stock after selling 3,000 shares during the period. PTC comprises about 0.9% of Brant Point Investment Management LLC's holdings, making the stock its 14th largest holding. Brant Point Investment Management LLC's holdings in PTC were worth $7,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Commerce Bank lifted its stake in PTC by 557.8% in the fourth quarter. Commerce Bank now owns 311,841 shares of the technology company's stock worth $57,338,000 after acquiring an additional 264,437 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of PTC by 303.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 29,199 shares of the technology company's stock valued at $5,369,000 after purchasing an additional 21,955 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of PTC during the fourth quarter valued at about $10,023,000. NewEdge Advisors LLC raised its stake in PTC by 4.3% in the fourth quarter. NewEdge Advisors LLC now owns 9,070 shares of the technology company's stock worth $1,668,000 after buying an additional 374 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in PTC during the 4th quarter valued at approximately $295,000. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $5.08 during midday trading on Wednesday, hitting $148.89. The company had a trading volume of 265,522 shares, compared to its average volume of 871,527. The company has a fifty day moving average of $155.61 and a two-hundred day moving average of $176.86. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $17.92 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. KeyCorp lowered their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on PTC from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Tuesday. Rosenblatt Securities reiterated a "buy" rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Citigroup dropped their price target on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Finally, BMO Capital Markets dropped their target price on shares of PTC from $220.00 to $183.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of "Moderate Buy" and a consensus target price of $192.08.

About PTC

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.