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PTC Expands ALM Portfolio With Acquisition of Pure Systems
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PTC Inc (PTC - Free Report) has officially acquired a leading provider of solutions for managing product and software variants — pure-systems. The acquisition will help PTC to address the demand for manufacturers' software variant management.
The acquisition will strengthen PTC's position in the rapidly growing Application Lifecycle Management (ALM) market, especially benefiting industries like automotive, aerospace, and medical devices that prioritize software in their product designs.
PTC's Codebeamer ALM and Windchill product lifecycle management (PLM) solutions are further complemented by pure::variants, which will likely help PTC expand its footprint in the software requirements, configuration, testing, and validation solutions market.
Per a report from Verified Market Research, the ALM market is projected to reach $5.54 billion in 2028, registering a CAGR of 6.78% from 2021 to 2028. The report further added that the industry is likely to benefit from ongoing digitalization and rapid technological advancement.
Strategic acquisitions have played a pivotal part in developing the company’s business in the last few years. In January, the company acquired a cloud-based field service management (FSM) software company — ServiceMax — for $1.46 billion.
The integration of ServiceMax is expected to strengthen PTC’s closed-loop PLM solutions by providing enterprise asset management and FSM companies with monitoring and servicing product records after the product moves into customer use, added the company.
Prior to that, PTC acquired Germany-based Intland Software for $280 million. Stuttgart-based Intland Software develops and markets the Codebeamer ALM software products, which include a cloud-ready and fully integrated solution. In the fourth quarter of 2022, Codebeamer won contracts from a German automaker, a semiconductor company and a Korean automaker.
At present, PTC carries a Zacks Rank #3 (Hold). Shares of PTC have gained 24.4% compared with the sub-industry’s growth of 31.2% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 35% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 68.4% in the past year.
The Zacks Consensus Estimate for Woodward’s fiscal 2023 EPS has increased 5.6% in the past 60 days to $4.15.
WWD’s long-term earnings growth rate is 18.8%. Shares of WWD have gained 42.1% in the past year.
The Zacks Consensus Estimate for Watts Water’s 2023 EPS has increased 4.8% in the past 60 days to $7.78. The company’s long-term earnings growth rate is 7.5%.
Watts Water’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 12.5%. Shares of WTS have rallied 30% in the past year.
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PTC Expands ALM Portfolio With Acquisition of Pure Systems
PTC Inc (PTC - Free Report) has officially acquired a leading provider of solutions for managing product and software variants — pure-systems. The acquisition will help PTC to address the demand for manufacturers' software variant management.
The acquisition will strengthen PTC's position in the rapidly growing Application Lifecycle Management (ALM) market, especially benefiting industries like automotive, aerospace, and medical devices that prioritize software in their product designs.
PTC's Codebeamer ALM and Windchill product lifecycle management (PLM) solutions are further complemented by pure::variants, which will likely help PTC expand its footprint in the software requirements, configuration, testing, and validation solutions market.
PTC Inc. Price and Consensus
PTC Inc. price-consensus-chart | PTC Inc. Quote
Per a report from Verified Market Research, the ALM market is projected to reach $5.54 billion in 2028, registering a CAGR of 6.78% from 2021 to 2028. The report further added that the industry is likely to benefit from ongoing digitalization and rapid technological advancement.
Strategic acquisitions have played a pivotal part in developing the company’s business in the last few years. In January, the company acquired a cloud-based field service management (FSM) software company — ServiceMax — for $1.46 billion.
The integration of ServiceMax is expected to strengthen PTC’s closed-loop PLM solutions by providing enterprise asset management and FSM companies with monitoring and servicing product records after the product moves into customer use, added the company.
Prior to that, PTC acquired Germany-based Intland Software for $280 million. Stuttgart-based Intland Software develops and markets the Codebeamer ALM software products, which include a cloud-ready and fully integrated solution. In the fourth quarter of 2022, Codebeamer won contracts from a German automaker, a semiconductor company and a Korean automaker.
At present, PTC carries a Zacks Rank #3 (Hold). Shares of PTC have gained 24.4% compared with the sub-industry’s growth of 31.2% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Asure Software (ASUR - Free Report) , Woodward (WWD - Free Report) and Watts Water Technologies (WTS - Free Report) . Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 35% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 68.4% in the past year.
The Zacks Consensus Estimate for Woodward’s fiscal 2023 EPS has increased 5.6% in the past 60 days to $4.15.
WWD’s long-term earnings growth rate is 18.8%. Shares of WWD have gained 42.1% in the past year.
The Zacks Consensus Estimate for Watts Water’s 2023 EPS has increased 4.8% in the past 60 days to $7.78. The company’s long-term earnings growth rate is 7.5%.
Watts Water’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 12.5%. Shares of WTS have rallied 30% in the past year.