PTC
PTC Inc
TMT
05/15/2015
Presented
| Date | 05/13/2015 |
| Price | $38.99 |
| Market Cap | $4.48B |
| Ent Value | $4.75B |
| P/E Ratio | 40.5x |
| Book Value | $7.43 |
| Div Yield | N/A |
| Shares O/S | 114.99M |
| Ave Daily Vol | 910,000 |
| Short Int | 0.96% |
Current
| Price | $184.01 |
| Market Cap | $22.11B |
| PTC Inc. develops, markets, and supports software products and solutions in the areas of computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), service lifecycle management (SLM), and Internet of things (IoT) worldwide. The company operates in two segments, Software Products and Services. Its CAD products include PTC Creo, an interoperable suite of product design software; and PTC Mathcad software for solving, analyzing, and sharing vital engineering calculations. The company offers PLM products, such as PTC Windchill that provides lifecycle intelligence from design to service; and PTC Creo View, which enables enterprise-wide visualization, verification, annotation, and automated comparison of various product development data formats. It also provides ALM products comprising PTC Integrity that enables users to manage system models, software configurations, test plans, and defects, as well as Model-Based Systems Engineering solution for safety-critical applications and product line engineering. In addition, the company’s SLM products include PTC Axeda, a suite of software products that enables a systematic approach to service lifecycle management; and IoT products comprising ThingWorx, a platform for building and running applications for the IoT. Further, PTC Inc. provides consultation, implementation, and training services. It sells its products and services through direct sales force, as well as through third-party resellers and other strategic partners. The company was formerly known as Parametric Technology Corporation and changed its name to PTC Inc. in January 2013. PTC Inc. was founded in 1985 and is headquartered in Needham, Massachusetts. |
Publicly traded companies mentioned herein: Adobe Systems Inc (ADBE), ANSYS Inc (ANSS), Autodesk Inc (ADSK), PTC Inc (PTC)
Highlights
The presenter is long shares of computer-aided design (CAD) and product lifecycle management (PLM) software company PTC Inc (PTC). “The top line has contracted y-o-y, and the bottom line has been weak,” but when FX and the effects of a switch to a subscription model are backed out he sees earnings up +20%. Shares appear to be meaningfully undervalued at current levels/ multiples, and the recent acquisitions of Internet of Things (IoT) players ThingWorx and Axeda give the company a major presence in a rapidly growing market.
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