PTC Subscription Shift Rolls Ahead; Long-Term Strategy Remains Sound; Shares Trading Near Fair Value
PTC reported a solid end to the fiscal year with the firm’s subscription business model transformation continuing full steam ahead. The firm expects to have a subscription business model mix of approximately 95% in fiscal 2021 and a recurring software revenue rate of roughly 98%, illustrating the firm’s wholesale shift to subscription. We view the move as value add as it is expected to improve the lifetime value of PTC’s customers over the long term. As such, we believe in PTC’s current strategy...PTC is a software and services company. The company's products and services include: 3D Modeling, which enables users to create designs, analyze designs, perform engineering calculations and utilize the information created downstream using 2D, 3D, parametric and direct modeling; Lifecycle Management, which enables product data management, as well as communication and collaboration across the enterprise, including product development, manufacturing and the supply chain; Data Orchestration, which delivers tools, technologies, and solutions that enable companies to develop and deploy industrial IoT applications; and Experience Creation, which provides a way to capture, create, and deliver content.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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