Parametric Technology Stock Hits New 52-Week High (PMTC)

NEW YORK ( TheStreet) -- Parametric Technology Corporation (Nasdaq: PMTC) hit a new 52-week high Tuesday as it is currently trading at $28.05, above its previous 52-week high of $27.94 with 72,359 shares traded as of 9:35 a.m. ET. Average volume has been 1.2 million shares over the past 30 days.

Parametric Technology has a market cap of $2.55 billion and is part of the technology sector and computer software & services industry. Shares are up 51.8% year to date as of the close of trading on Monday.

Parametric Technology Corporation develops, markets, and supports product lifecycle management (PLM) software solutions and services that help companies design products, manage product information, and enhance product development processes worldwide. The company has a P/E ratio of 35, above the average computer software & services industry P/E ratio of 30.2 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Parametric Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Parametric Technology Ratings Report.

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