Autodesk (NASDAQ:ADSK) Drops to Lowest Level after Second Quarter Weak Forecast –ADSK, PMTC, ANSS, ADBE

  on May 21,2012 Posted in Business News ,Finance
 
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Autodesk, Inc (NASDAQ:ADSK), a producer of architectural and engineering software, tumbled to the record low in over 3 years after providing a Q2 earnings estimate that failed to meet analysts’ anticipations.

Shares of the company fell 13% to $30.26 at the finish and marked the biggest drop since Nov 21, 2008. The shares climbed 15% current year before Friday.

The San Rafael, California-based ADSK reported that earnings in the second-quarter would be in the range of 46 cents to 51 cents per share, without special items like stock-based reward. Bloomberg compiled data confirm that analysts on average forecasted 51 cents per share.

Parametric Technology (NASDAQ:PMTC) fell -0.10% to settle at $19.98, ANSYS, Inc. (NASDAQ:ANSS) moved down -2.14% to end at $59.80 while Adobe Systems Incorporated (NASDAQ:ADBE) fell -2.19% to finish on Friday at $31.31.

Autodesk, Inc. (NASDAQ:ADSK) began the last trading session with a price of $31.89 and throughout the session climbed at a high of $32.33 but when day-trade ended the stock finally fell -12.87% to $30.26.

ADSK had a trade volume of 24.18 million shares was higher as compared to average trading capacity of 2.41 million shares.

The stock is ahead its 52 week low with 31.62% and lagging behind from its 52 week high price with -32.76%. ADSK last month stock price volatility remained 3.41%. In its share capital ADSK has 231.07 million outstanding shares among them 227.60 million shares have been floated in market exchange. ADSK stock institutional ownership remained 89.11% while insider ownership included 0.41%.

Shares price of ADSK moved down from its 20 days moving average with -20.36% and remote negatively from 50 days moving average with -23.60%. ADSK current year earnings per share experienced an addition with +35.09% while its current quarter performance remained -22.23%. Company’s beta coefficient included 2.11. Beta factors measures the amount of market risk associated with market trade.

 



 

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