10 Best 3D Printing and Additive Manufacturing Stocks To Buy

4. PTC Inc. (NASDAQ:PTC)

Number of Hedge Fund Holders: 42

PTC Inc. (NASDAQ:PTC) is an application software company in Boston, Massachusetts. The company offers two product groups, namely computer-aided design and lifecycle management. The former offers software for data authoring, and the latter offers software for product data management and process orchestration.

Investors should consider buying PTC Inc. (NASDAQ:PTC) today because it is benefitting from several growth catalysts, such as the digitalization of the manufacturing world and the overall transition to cloud-based SaaS solutions, which PTC Inc. (NASDAQ:PTC) readily provides. As a result, the company’s software solutions are becoming increasingly valuable for investors and customers alike.

PTC Inc. (NASDAQ:PTC) had 42 hedge funds long its stock in the first quarter, with a total stake value of $2.6 billion.

Here’s what Madison Investments said about PTC Inc. (NASDAQ:PTC) in its first-quarter 2024 investor letter:

“PTC Inc. (NASDAQ:PTC) was one of our oldest portfolio holdings (~23 years!) and best performing stocks. We made our initial investment in PTC in 2001(in those days the company’s full name was Parametric Technology Corporation) after the dot com crash when the stock had an equity market value of approximately $1billion. We sold our final share near an equity market value of approximately $22billion. When we first initiated the investment position, we saw an attractively valued software company that provided very sticky, difficult to replace design software for engineers in the manufacturing sector. Over that 20-year span, PTC has grown both organically and through strategic M&A into one of the most vital design software engineering platforms in the world. Companies like BMW, Rockwell International, Medtronic, Hitachi, Boeing, Airbus, Volvo, Cannondale, Toyota, and GM all use PTC to design, collaborate and maintain the lifecycle of their franchise products and platforms. This investment illustrates not only the financial potential and opportunity of small cap investing but also our PMV process to identify and capitalize on strategic assets like PTC.”