We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PTC & ITC Infotech Team Up to Boost Uptake of Windchill
Read MoreHide Full Article
PTC Inc (PTC - Free Report) and India-based ITC Infotech recently announced that the two companies closed the transaction ???contemplated??? between them under the Strategic Partner Agreement, which was inked in April 2022.
As a part of the strategic alliance, the two companies will be working closely to develop joint solutions that can speed up customer digital transformation endeavors and boost the uptake of Windchill product lifecycle management (PLM) software as a service (SaaS) solution.
As part of the deal, a significant part of PTC's PLM consulting and professional services business has been taken over by ITC Infotech. Per the agreement, ITC Infotech???s total commitments are worth around $115 million. This includes $33 million cash received by PTC at the closing of the transaction. The remaining constitutes a mix of committed and contingent items to be delivered over the next five years per the terms of the agreement, added PTC.
Following the takeover, ITC Infotech will be setting up a new business division called DxP Services, led by?? Patrick Bionducci. Bionducci earlier led PTC???s global services business.??
Nearly 160 of PTC???s PLM consultant staff will join DxP Services unit alongside ITC Infotech???s PLM professionals. DxP Services unit will be focusing on migrating PTC???s customer systems to the cloud as part of its multi-year roadmap, stated PTC.
The takeover of PTC???s PLM consulting and professional services business will expand ITC Infotech???s presence in Italy, Austria, Brazil, Canada, Denmark, France, Germany, the Netherlands, Poland, Romania, Sweden, Switzerland, the U.K. and the United States and enable it to become a leading global SaaS systems??? integrator.
Boston, MA-based PTC Inc. provides software solutions and services globally that aid manufacturing companies in designing, operating, and managing products. The company???s top-line performance is driven by robust demand for products (digital transformation and SaaS) across all segments and regions.
The company is also working toward accelerating the SaaS transition by increasing the capacity of its Atlas platform and improving its SaaS capabilities. PTC is witnessing robust adoption of Creo CAD and Windchill solutions. Strategic acquisitions have played a pivotal part in developing the company???s business in the last few years.
PTC currently sports a Zacks Rank #1 (Strong Buy). Shares have lost 10.6% against the industry???s decline of 3.7% in the past year.
The Zacks Consensus Estimate for Cadence 2022 earnings is pegged at $3.94 per share, up 5.6% in the past 60 days. The long-term earnings growth rate is pegged at 17%.
Cadence earnings beat the Zacks Consensus Estimate all last four quarters, with the average being 10.6%. Shares of CDNS have surged 27% in the past year.
The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.28 per share, up 5.1% in the past 60 days. IDCC???s long-term earnings growth rate is pegged at 15%.
InterDigital???s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 21.5% of their value in the past year.
The Zacks Consensus Estimate for Avnet???s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.
Avnet???s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 21.22%. Shares of Avnet have grown 10.6% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PTC & ITC Infotech Team Up to Boost Uptake of Windchill
PTC Inc (PTC - Free Report) and India-based ITC Infotech recently announced that the two companies closed the transaction ???contemplated??? between them under the Strategic Partner Agreement, which was inked in April 2022.
As a part of the strategic alliance, the two companies will be working closely to develop joint solutions that can speed up customer digital transformation endeavors and boost the uptake of Windchill product lifecycle management (PLM) software as a service (SaaS) solution.
As part of the deal, a significant part of PTC's PLM consulting and professional services business has been taken over by ITC Infotech. Per the agreement, ITC Infotech???s total commitments are worth around $115 million. This includes $33 million cash received by PTC at the closing of the transaction. The remaining constitutes a mix of committed and contingent items to be delivered over the next five years per the terms of the agreement, added PTC.
Following the takeover, ITC Infotech will be setting up a new business division called DxP Services, led by?? Patrick Bionducci. Bionducci earlier led PTC???s global services business.??
PTC Inc. Price and Consensus
PTC Inc. price-consensus-chart | PTC Inc. Quote
Nearly 160 of PTC???s PLM consultant staff will join DxP Services unit alongside ITC Infotech???s PLM professionals. DxP Services unit will be focusing on migrating PTC???s customer systems to the cloud as part of its multi-year roadmap, stated PTC.
The takeover of PTC???s PLM consulting and professional services business will expand ITC Infotech???s presence in Italy, Austria, Brazil, Canada, Denmark, France, Germany, the Netherlands, Poland, Romania, Sweden, Switzerland, the U.K. and the United States and enable it to become a leading global SaaS systems??? integrator.
Boston, MA-based PTC Inc. provides software solutions and services globally that aid manufacturing companies in designing, operating, and managing products. The company???s top-line performance is driven by robust demand for products (digital transformation and SaaS) across all segments and regions.
The company is also working toward accelerating the SaaS transition by increasing the capacity of its Atlas platform and improving its SaaS capabilities. PTC is witnessing robust adoption of Creo CAD and Windchill solutions. Strategic acquisitions have played a pivotal part in developing the company???s business in the last few years.
PTC currently sports a Zacks Rank #1 (Strong Buy). Shares have lost 10.6% against the industry???s decline of 3.7% in the past year.
Stocks to Consider
A few better-ranked stocks from the broader technology sector worth consideration are InterDigital (IDCC - Free Report) Avnet (AVT - Free Report) and Cadence?? Design Systems (CDNS - Free Report) . All stocks sport a Zacks Rank #1. You can see the complete list of today???s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Cadence 2022 earnings is pegged at $3.94 per share, up 5.6% in the past 60 days. The long-term earnings growth rate is pegged at 17%.
Cadence earnings beat the Zacks Consensus Estimate all last four quarters, with the average being 10.6%. Shares of CDNS have surged 27% in the past year.
The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.28 per share, up 5.1% in the past 60 days. IDCC???s long-term earnings growth rate is pegged at 15%.
InterDigital???s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 21.5% of their value in the past year.
The Zacks Consensus Estimate for Avnet???s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.
Avnet???s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 21.22%. Shares of Avnet have grown 10.6% in the past year.