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SIEGY - PTC Jumps On Signs That Stability And Predictability Are Coming Back
Siemens AG ADR
PTC (PTC) has had a rough year, with the shares down about 18% on a year-to-date basis in what has been a pretty good year for software in general and comps/peers like Ansys (ANSS) and Dassault (OTCPK:DASTY). While I thought PTC’s valuation looked somewhat demanding going into a tricky macro environment for 2019, the company’s last three quarters have been quite choppy, with a series of bookings misses and worries about the company’s ability to translate “great interest” among customers in IoT and augmented reality (or AR) into actual