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Boston Globe
04-08-2025
- Business
- Boston Globe
Neil Barua shines as CEO at Boston software firm PTC
Consolidation could mean more acquisitions for PTC, too. The firm has made three of them in the past two years. Barua, in an interview several weeks before the earnings announcement, said the company will continue to consider smaller acquisitions that help accelerate and augment its existing priorities and core technology. Advertisement Barua joined the company via one of those deals: the $1.5 billion purchase of ServiceMax, a California company that had been controlled by private equity firm Silver Lake (where Barua worked before leading ServiceMax). Barua, who became chief executive upon Heppelmann's retirement in early 2024, relocated to the Boston area, where about 1,000 of the firm's 7,000 employees are based. He's taken a hybrid return-to-office approach, giving employees the option to decide when to go into the Seaport headquarters. Advertisement 'There's a grit and there's a level of, 'We've gone through so many different things over the last four years at PTC and, quite frankly within Boston itself,'' Barua said. 'I actually think that resilience that the Boston community has is a big, big plus. I'm not saying San Francisco doesn't have it, but they don't have it anywhere close to what I've seen here in Boston.' PTC is now one of the biggest software firms in the Boston area and also one of the oldest. The company just celebrated its 40th anniversary. 'It's one of the few companies in technology that's been around for 40 years,' Barua said. 'I believe the next 40 years are going to be even brighter.' Tom Glynn is back in the ring The Wu administration has turned to a familiar face to referee negotiations with the Kraft Group over the construction of a pro soccer stadium: former Massport chief executive Tom Glynn . Glynn is stepping in because state legislation allowing the soccer stadium for the New England Revolution to go up in an industrial zone on the Everett waterfront — across the Mystic River from Charlestown — also requires the Kraft Group to reach community mitigation agreements with Everett and Boston. Aside from his tenure as port authority chief, Glynn has held a number of prominent roles in Boston, including as a top executive with hospital chain Mass General Brigham (when it was still known as Partners HealthCare), chief executive of the Harvard Allston Land Co. , and chair of the MBTA's board. He's essentially coming out of retirement, again, to mediate the soccer stadium talks. Advertisement Glynn has also pulled double duty as a mediator at times. In 2002, then-mayor Tom Menino reached out to Glynn to help bring labor peace to office janitors who were out on strike. Two years later, Glynn worked with Tom Birmingham to help Menino reach contract accords with city police and firefighter unions. The state legislation rezoning the area where the Revs stadium would go requires mediation if a deal couldn't be done by May 1, and sends the issue to arbitration if one can't be reached by Dec. 31. Glynn said he was first approached by Mayor Michelle Wu 's administration in June and was initially reluctant. But after the Kraft Group agreed to the choice, he decided to help. He asked if Rebecca Kaiser , a former Partners colleague who is now a consultant, could join him. Glynn said he'll be paid $10,000 a month for five months to oversee the mediation, starting on Aug. 1, while Kaiser will receive $5,000 a month; the city and the Kraft Group will split the tab. The lead negotiator for the Kraft Group is Jim Cobery , while Lisa Herrington represents the city. 'Our goal is to have a win-win for soccer fans and for the people who live in Charlestown, Glynn said. 'Maybe that sounds naïve or simplistic, but that is in fact the deal.' Teaming up for impact Krissie Kelleher graduated from Boston College nearly 30 years ago. But she clearly remembers the camaraderie she enjoyed and the leadership skills she honed by being part of BC's lacrosse team. It's an experience that informed her decision to join Team Impact from the Rivers School in Weston as the Boston-based nonprofit's chief development officer in January. And now she will draw upon it again, as she steps up to be its new chief executive. Team Impact matches children who have disabilities or debilitating illnesses with college sports teams. The kids and their teams share activities to bond with each other over two years, starting with a 'signing day,' and including hangouts and visits. Advertisement Kelleher replaces Joe Daniels , who left in March after less than a year in the job. Daniels had taken over for longtime leader Seth Rosenzweig , who essentially had turned the organization from a construction company owner's dream into a national nonprofit. Team Impact got started because Jay Calnan of J. Calnan & Associates was inspired by his late brother Chris Calnan 's experience as a batboy at a Red Sox affiliate in Connecticut. Calnan launched Team Impact in 2011 with help from Dan Kraft , a top executive with the Kraft Group , and other Tufts University alums and friends. Since then, more than 4,000 kids have been matched with university teams. Team Impact has offices in Boston and four other cities, a $10 million budget, and a staff of more than 50 people. 'Playing for and captaining the college team taught me so much about leadership and empowerment,' Kelleher said. 'Every athlete understands how important and how formative that experience [can be]. Being able to extend that experience to children that really need it is remarkably invaluable.' From intern to CEO at Alku Be nice to the interns. You never know when one of them might end up running the company. That's one lesson from Andrew Bull 's ascent at Andover-based Alku , one of the state's largest staffing firms. Mark Eldridge announced that Bull will succeed him as chief executive starting on Sept. 9, leading a team of 500-plus employees. Advertisement The company was much smaller when Bull joined about 15 years ago, first as an intern out of UMass Amherst, and then full-time as a recruiter. Most of Alku's executives today, Bull said, started in entry-level positions, just like he did. That's one reason Bull says he appreciates the outside guidance provided by private equity firm New Mountain Capital , which acquired a controlling stake in Alku in 2023. Eldridge will stick around as an adviser to the company he founded in 2008 and will serve as chairman. The timing of the announcement coincided with his 60th birthday. The business specializes in finding people to fill temporary assignments in life sciences and tech; Bull says the agency is considering whether to branch into recruiting for full-time, permanent placements, too. The firm's revenue could approach $600 million this year, though the staffing industry has retrenched in the past few years. As the sector contracts, Alku is gaining market share: Staffing Industry Analysts recently ranked Alku as the 41st largest based on US revenue, up from 57th the previous year, and behind only one Massachusetts-based agency, Beacon Hill Solutions Group . 'In my new hire orientation, I always say there's probably somebody here who will someday be certainly a vice president, or perhaps a president or CEO,' Bull said. 'I absolutely think that's within the cards. ... That's how the company has been built, from the bottom up.' Jon Chesto can be reached at
Yahoo
18-06-2025
- Business
- Yahoo
How Is PTC Inc.'s Stock Performance Compared to Other Software Stocks?
With a market cap of $20.7 billion, PTC Inc. (PTC) operates as a software company in the Americas and internationally. Headquartered in Boston, Massachusetts, the company offers a comprehensive portfolio of software solutions, including computer-aided design modeling, product lifecycle management, data orchestration, and experience management. Companies worth $10 billion or more are typically referred to as "large-cap stocks." PTC fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the software application industry. PTC offers Windchill, a suite that manages all aspects of the product development lifecycle, ThingWorx, an Industrial Internet of Things software, and ServiceMax, a service lifecycle management solution. Dear Tesla Stock Fans, Mark Your Calendars for June 22 Trump Is Giving Tesla's Robotaxis a Leg Up Ahead of June 22. Should You Buy TSLA Stock Now? Nvidia Says Quantum Computing Is Nearing an 'Inflection Point.' Here Are the 3 Best Stocks to Buy Now to Profit. Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Despite its strengths, the stock has plunged 17.5% from its 52-week high of $203.09 touched on Dec. 12, 2024. Moreover, over the past three months, PTC stock has grown 5.5%, underperforming the SPDR S&P Software & Services ETF's (XSW) 7.7% uptick during the same time frame. PTC stock has declined 8.9% on a YTD basis, underperforming XSW's 3.8% fall in 2025. Moreover, PTC has declined 3% over the past 52 weeks, underperforming XSW's 24.8% surge. PTC has been trading below its 200-day moving average since early February and above its 50-day moving average since early May. PTC shares surged marginally following the release of its Q2 earnings on Apr. 30. The company reported a 6% year-over-year growth in its revenue, which amounted to $636 million and topped Street forecasts. The company's non-GAAP operating margin also expanded by 490 basis points to 47%. PTC's adjusted earnings rose 23% from the prior year's quarter to $1.79 and surpassed the analyst estimates by 37.7%. Its rival, Workday, Inc. (WDAY) has declined 5.8% in 2025 and has grown 14.2% over the past year, outperforming the stock. Among the 18 analysts covering the PTC stock, the consensus rating is a 'Moderate Buy.' Its mean price target of $187.50 suggests a modest 11.3% upside potential from current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
12-02-2025
- Business
- Yahoo
PTC Launches ServiceMax AI, a Generative AI-Powered Field Service Assistant
Leading field service management solution delivers new GenAI capabilities to service organizations to increase technician effectiveness Reschedules appointments, automates manual tasks, reviews asset history, and provides predictive maintenance guidance to streamline service execution Intelligently searches through manuals, troubleshooting guides, and service history to answer technician questions and proactively recommend service resolutions BOSTON, Feb. 12, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced the release of the ServiceMax AI field service management assistant powered by generative artificial intelligence (GenAI). ServiceMax AI leverages the full documented history of a field asset stored in the ServiceMax® platform, including equipment data, service history, and known service resolutions, to help field service technicians get more done in less time. With the power of GenAI, technicians can use ServiceMax AI Chat to answer questions about a specific job or asset, automate manual documentation and scheduling tasks, and review proactive recommendations for predictive maintenance. ServiceMax AI is based on decades of field service expertise and the latest GenAI technology, enabling service organizations to modernize their workflows and the technician experience. For a more in-depth look at ServiceMax AI, including how it's addressing workforce challenges, how it mimics natural human interaction, and its place in the age of agentic AI, please read this blog from Joseph June, General Manager of ServiceMax: The Next Evolution in Field Service: AI-Powered ServiceMax is Solving the Technician Knowledge Challenge. About PTC PTC (NASDAQ: PTC) is a global software company that enables manufacturers and product companies to digitally transform how they design, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit @PTC Blogs MediaGreg Paynegpayne@ InvestorsMatt Shimaomshimao@ PTC, ServiceMax, and the PTC logo are trademarks or registered trademarks of PTC Inc. and its subsidiaries in the United States and other countries. View original content to download multimedia: SOURCE PTC Inc.
