NEW YORK ( TheStreet) -- Since reaching a high of $41.42 on March 20, shares of CAD/CAM software company Autodesk (ADSK - Get Report) have plummeted by 11%. Until that point, however, the stock had been on an incredible run, gaining close to 20% on the year. When it comes to Autodesk, which has had a long-standing struggle with revenue growth, investors can never seem to make up their minds.On the one hand, I have to credit management for how well they have navigated a tough IT spending environment. The manner in which Autodesk has maintained margins and executed some tough cost-control initiatives has been impressive. But here's the thing - for a tech company that is trading at a price-to-earnings ratio of 38, which is almost 4 times that of rival Cadence Design (CDNS), Autodesk, which posted 1% revenue decline this quarter, has been unable to justify investors' optimism.
Back to the Drawing Board for Autodesk
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