Autodesk, Inc. (NASDAQ:ADSK) Receives $320.33 Average PT from Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $323.05.

A number of research firms have weighed in on ADSK. Berenberg Bank boosted their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. Oppenheimer increased their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th.

Autodesk Stock Down 1.8 %

Shares of ADSK opened at $303.77 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The stock has a market capitalization of $65.31 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 3.62 and a beta of 1.43. The stock has a fifty day moving average of $296.76 and a 200-day moving average of $263.94.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in ADSK. Jag Capital Management LLC purchased a new position in Autodesk during the 3rd quarter worth $13,861,000. LMR Partners LLP bought a new position in shares of Autodesk during the third quarter valued at about $12,643,000. Starboard Value LP purchased a new position in Autodesk during the third quarter worth about $510,189,000. Erste Asset Management GmbH bought a new stake in Autodesk in the 3rd quarter worth about $20,087,000. Finally, Bank of Montreal Can increased its stake in Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Company Profile

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.