PTC Sales & Marketing Initiatives Explained Courtesy Of CFO Andy Miller

During a visit to PTC Inc (NASDAQ: PTC), chief financial officer Andy Miller said the company’s subscription model transition was well ahead of the original schedule and the current maintenance-to-subscription conversion program was boosting overall revenue, Brean Capital’s Yun Kim said in a report. She maintains a Buy rating on the company, with a price target of $62.

Sales & Marketing Initiatives

Kim expects the subscription mix of new bookings to continue to rise, with the estimate at about 65 percent for FY 2017, versus 56 percent in the prior year.

“Much of the focus of the conversion program has been on this ability to remix products, and this effort has been highly successful,” the analyst commented.

Miller stated that successful lead generation efforts had resulted in improved attendance for the company’s webinars, which had led to several qualified sales leads.