PTC - Why Shares in Autodesk Surged in May
Shares in engineering software company Autodesk (NASDAQ: ADSK) rose 12.4% in May, according to data provided by S&P Global Market Intelligence. The move comes as part of an impressive rally from the industrial software companies, with peers Dassault Systemes and PTC both putting on double-digit gains in the month. In a nutshell, the market took a more positive outlook on global growth, and that's usually good news for the sector.
In addition, Autodesk continues to successfully migrate its customers toward a cloud based subscription model, from a license and maintenance model.
Image source: Getty Images.