It's been a while since I've caught up with PTC (NASDAQ: PTC) -- spring 2021, to be exact. Since then, the maker of computer-aided design (CAD) software has done well, growing its revenue and profitability by a double-digit percentage.

The only problem is that its shares have fizzled, selling off after a surge in optimism around a government infrastructure spending bill that would ultimately become the scaled-back $1.2 trillion Infrastructure Investment and Jobs Act.

Nevertheless, after over a decade of focus on asset-light software, the company's investment into hard assets is here and could continue for the next few years. After tumbling for most of 2021, PTC stock ended flat in 2022 and handily beat the market. If you're looking for a way to buy into a boom in infrastructure spending, PTC could be the industrial technology stock for you.

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Source Fool.com