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PTC Makes Moves to Better Facilitate SaaS Transition in Inertia-Full Industry; Raising FVE to $97

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

PTC’s fourth-quarter earnings results were stellar, surpassing our top and bottom line expectations thanks to broad-based product and geography strength. With results came news of organizational changes in the pipeline that we think will better improve PTC’s SaaS products and customer experience. One such change is a move to a “two in a box” model, where each customer has only one sales and one customer support contact. In general, we think any moves to make the SaaS transition a more seamless one is a welcome one as PTC’s clients are in industries far slower to change than the average enterprise.

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Company Profile

Business Description

PTC offers high-end computer-assisted design (Creo) and product lifecycle management (Windchill) software as well as Internet of Things and AR industrial solutions. Founded in 1985, PTC has 28,000 customers, with revenue stemming mostly from North America (45%) and Europe (40%).

121 Seaport Boulevard
Boston, MA, 02210
T +1 781 370-5000
Sector Technology
Industry Software - Application
Most Recent Earnings Sep 30, 2021
Fiscal Year End Sep 30, 2021
Stock Type Aggressive Growth
Employees 6,709