Which Software Stock is a Better Buy? By StockNews

Given the ongoing digital transformation, the growing demand for efficient and advanced software solutions should enable the enterprise software industry to grow substantially. Consequently, prominent players Autodesk (NASDAQ:) and PTC (NASDAQ:) are well-positioned to deliver solid returns in the upcoming months. But which of these stocks is a better buy now? Read more to find out.Autodesk, Inc. (ADSK) and PTC Inc. (PTC) are two prominent players in the software application industry. ADSK is a design software and services company that offers productive business solutions through technology products, and services focused on architecture, engineering, and construction (AEC), AutoCAD and AutoCAD LT, manufacturing (MFG), and media and entertainment (M&E) industries. On the other hand, PTC is a software and services company, which offers a portfolio of computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), and service lifecycle management (SLM (NASDAQ:)) solutions that enable manufacturers to

The resurgence of COVID-19 cases owing to the discovery of a highly transmissible omicron variant is making companies and enterprises adopt the remote working structures once again. Moreover, the rising corporate investments and continued demand for efficient analysis should drive the software industry’s prospects. The global software market is expected to grow at a 7.2% CAGR and reach $823.71 billion by 2026. The investor optimism in the software industry is evident from the SPDR S&P Software & Services ETF’s (XSW) 5.3% returns year-to-date. So, both PTC and ADSK are expected to benefit.

While ADSK lost 16% over the past month, PTC has surged 0.9%. PTC is a clear winner with 1.9% gains versus ADSK’s negative returns in terms of its past year’s performance. But which of these stocks is a better pick now? Let us find out.

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