SEC Watch Reporter: As Ptc INC (PTC) Share Value Rose, Clovis Capital Management LP Cut Position

SEC Watch Reporter: As Ptc INC (PTC) Share Value Rose, Clovis Capital Management LP Cut Position

Scott Scher & Michael Prober decreased its stake in Ptc Inc (PTC) by 24.9% based on its latest 2016Q3 regulatory filing with the SEC. Clovis Capital Management Lp sold 98,856 shares as the company’s stock rose 16.91% with the market. The hedge fund run by Scott Scher & Michael Prober held 298,217 shares of the prepackaged software company at the end of 2016Q3, valued at $13.21 million, down from 397,073 at the end of the previous reported quarter. Clovis Capital Management Lp who had been investing in Ptc Inc for a number of months, seems to be less bullish one the $5.79 billion market cap company. The stock is down 0.13% or $0.07 after the negative news, hitting $49.4 per share. About 166,524 shares traded hands. PTC Inc (NASDAQ:PTC) has risen 32.66% since June 7, 2016 and is uptrending. It has outperformed by 25.24% the S&P500.

Clovis Capital Management Lp, which manages about $264.67 million and $318.47M US Long portfolio, upped its stake in Onemain Holdings Inc by 157,627 shares to 307,627 shares, valued at $9.52 million in 2016Q3, according to the filing.

Clovis Capital Management, a firm focusing on high net-worth families as well as institutional investors, is a long/short equity hedge fund. It was founded by Michael Prober and Scott Scher in 2002. Prior to forming Clovis Capital, Prober and Scher were employed by Cramer Rosenthal McGlynn. Clovis Capital Management Lp is a New York-based hedge fund that was founded by Scott Scher & Michael Prober. It had more than $264.67 million assets under management in March, 2014. Taken from Clovis Capital Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Insitutional Activity: The institutional sentiment decreased to 1.07 in Q3 2016. Its down 0.23, from 1.3 in 2016Q2. The ratio dived, as 22 funds sold all PTC shares owned while 99 reduced positions. 46 funds bought stakes while 84 increased positions. They now own 89.80 million shares or 3.70% more from 86.60 million shares in 2016Q2. Live Your Vision Limited Liability has 352 shares for 0.01% of their US portfolio. Interest Gp accumulated 221,755 shares or 0% of the stock. Capstone Asset Mgmt Communication has 0.01% invested in the company for 8,949 shares. Creative Planning accumulated 0% or 494 shares. Diam holds 3,939 shares or 0% of its portfolio. The New York-based Solaris Asset Mgmt Lc has invested 0.04% in PTC Inc (NASDAQ:PTC). Verition Fund Management Ltd Limited Liability Company holds 0.11% or 22,903 shares in its portfolio. Teton Advsrs has invested 0.06% of its portfolio in PTC Inc (NASDAQ:PTC). Ameritas Invest Prtnrs holds 54,773 shares or 0.13% of its portfolio. Shelton Mngmt reported 11,112 shares or 0.04% of all its holdings. Thompson Davis Communication last reported 0.01% of its portfolio in the stock. Fourpoints Managers Sas has 25,823 shares for 0.87% of their US portfolio. Nicholas Investment Prtnrs LP last reported 0.23% of its portfolio in the stock. M&T National Bank has 0% invested in the company for 7,799 shares. Kcg Holdg Inc has 0.02% invested in the company for 21,601 shares.

Analysts await PTC Inc (NASDAQ:PTC) to report earnings on January, 18. They expect $0.15 earnings per share, down 59.46% or $0.22 from last year’s $0.37 per share. PTC’s profit will be $17.58 million for 82.33 P/E if the $0.15 EPS becomes a reality. After $0.12 actual earnings per share reported by PTC Inc for the previous quarter, Wall Street now forecasts 25.00% EPS growth.

According to Zacks Investment Research, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts.”

PTC Inc (NASDAQ:PTC) Ratings Coverage

Out of 9 analysts covering PTC (NASDAQ:PTC), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. PTC has been the topic of 17 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of PTC Inc (NASDAQ:PTC) has “Neutral” rating given on Wednesday, September 9 by Sterne Agee CRT. Wedbush maintained PTC Inc (NASDAQ:PTC) on Monday, September 21 with “Buy” rating. As per Wednesday, November 9, the company rating was maintained by Wedbush. The rating was initiated by Goldman Sachs with “Buy” on Friday, November 4. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, November 9. The stock has “Buy” rating given by Evercore on Thursday, September 15. As per Friday, October 7, the company rating was initiated by Brean Capital. As per Thursday, July 30, the company rating was maintained by Barclays Capital. As per Thursday, October 8, the company rating was initiated by KeyBanc Capital Markets. The rating was initiated by CLSA on Thursday, August 6 with “Outperform”.

PTC Company Profile

PTC Inc., incorporated on May 13, 1985, is a global computer software and services company. The Firm offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. The Firm also offers a suite of Internet of Things (IoT) solutions that enables its clients to connect, manage and analyze data, and create applications. The Company’s divisions include the Solutions Group, the IoT Group and Professional Services. The Solutions Group segment includes its CAD, PLM and SLM products. The IoT Group segment includes its IoT, analytics and augmented reality (AR) solutions. The Professional Services segment includes consulting, implementation and training business.

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