Investment Thesis
PTC provides CAD, PLM, IoT, and AR software enabling digital transformation for manufacturers. SaaS transition, industrial partnerships, and Servigistics/ThingWorx platforms drive recurring revenue.
- SaaS Momentum: Onshape, Arena, and Atlas platform accelerate recurring revenue.
- Industrial IoT: ThingWorx and Kepware connect factory assets.
- Strategic Partnerships: Alliances with Rockwell and service providers expand reach.