Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00

Autodesk (NASDAQ:ADSK) had its price objective raised by equities research analysts at Stifel Nicolaus from $320.00 to $340.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.66% from the company’s current price.

ADSK has been the topic of a number of other reports. Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Berenberg Bank lifted their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Oppenheimer boosted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. KeyCorp restated an “overweight” rating and set a $305.00 price objective on shares of Autodesk in a research note on Monday, August 26th. Finally, Citigroup set a $325.00 target price on Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $296.20.

Autodesk Stock Down 2.4 %

Autodesk stock opened at $299.15 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50-day moving average is $281.32 and its 200-day moving average is $251.23. The firm has a market capitalization of $64.32 billion, a PE ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. Sell-side analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Goodman Advisory Group LLC increased its position in Autodesk by 10.0% in the third quarter. Goodman Advisory Group LLC now owns 13,915 shares of the software company’s stock worth $3,833,000 after buying an additional 1,262 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Autodesk by 2.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 357,581 shares of the software company’s stock worth $98,506,000 after acquiring an additional 9,361 shares in the last quarter. Continuum Advisory LLC raised its stake in Autodesk by 9.5% during the 3rd quarter. Continuum Advisory LLC now owns 704 shares of the software company’s stock worth $194,000 after acquiring an additional 61 shares during the period. Drucker Wealth 3.0 LLC lifted its holdings in Autodesk by 4.9% during the third quarter. Drucker Wealth 3.0 LLC now owns 3,626 shares of the software company’s stock valued at $999,000 after purchasing an additional 169 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Autodesk by 7.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 90,270 shares of the software company’s stock worth $24,868,000 after purchasing an additional 6,489 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.