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BOSTON - PTC (NASDAQ: PTC), a global software company with a market capitalization of $18.79 billion and impressive gross profit margins of 80.7%, announced today the acquisition of IncQuery Group, a firm that specializes in application lifecycle management (ALM) and systems engineering services. According to InvestingPro data, PTC maintains a "GOOD" financial health rating, positioning it well for strategic acquisitions. The move aims to enhance PTC’s offerings in ALM, systems engineering, and product lifecycle management (PLM).
IncQuery Group is known for assisting manufacturers and product companies in streamlining product development processes by integrating hardware and software engineering systems. This acquisition is expected to enable better collaboration across development teams and more efficient product data management.
Neil Barua, President and CEO of PTC, emphasized the strategic importance of the acquisition, stating, "The acquisition of IncQuery Group strengthens our focus on engineering and product development and adds expertise to help accelerate our ALM and PLM portfolio integrations and better support our customers."
The leadership of IncQuery Group also expressed enthusiasm about joining PTC. István Ráth, Chairman of the Executive Board of IncQuery Group, and Ákos Horváth, Chief Technology Officer, jointly stated their excitement about supporting more global manufacturers with their systems engineering and ALM expertise, as well as contributing to the enhancement of PTC’s engineering and product development portfolio.
This acquisition follows PTC’s recent advancements in ALM, including the release of its Codebeamer® 3.0 ALM solution and ongoing development of its Codebeamer AI offering.
PTC serves over 30,000 customers worldwide and is headquartered in Boston, Massachusetts. The company’s software solutions are aimed at digitally transforming the design, manufacturing, and service of physical products.
The financial terms of the acquisition were not disclosed in the press release. This news is based on a press release statement from PTC. For a comprehensive analysis of PTC’s financial position and future prospects, investors can access the detailed Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with deep-dive analysis and actionable insights.
In other recent news, PTC Inc. reported its first-quarter earnings, surpassing analyst estimates with an adjusted earnings per share of $1.10, compared to the projected $0.90. Revenue for the quarter reached $565 million, slightly above the forecasted $555.42 million and marking a 3% year-over-year increase. Despite these positive results, PTC’s guidance for the upcoming quarter and full fiscal year fell short of expectations, leading to a decline in investor confidence. The company projects second-quarter adjusted EPS of $1.30-$1.50, below the $1.62 consensus, and expects revenue between $590-620 million, missing the $647 million analyst estimate. For the full fiscal year, PTC anticipates adjusted EPS of $5.30-$6.00 and revenue of $2.43-2.53 billion, both below analyst forecasts.
In addition to financial updates, PTC announced the release of Codebeamer 3.0, a new Application Lifecycle Management solution aimed at enhancing product development in regulated industries. The company also appointed Trac Pham, former CFO of Synopsys, to its Board of Directors, bringing his extensive financial expertise to PTC’s leadership team. Analyst Daniel Jester from BMO maintained an Outperform rating on PTC, despite lowering his price target from $225 to $220, citing potential benefits from new AI solutions to be launched this year.
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