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Why Shares in Autodesk Surged in May

TheMotleyFool

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Why Shares in Autodesk Surged in MayPhoto, wide shot, wide-angle lens, Conglomerate, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/95f18fed-a4d6-4069-b489-4d050c74c618.png

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.

Source Fool.com

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