Stifel Nicolaus Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price upped by equities research analysts at Stifel Nicolaus from $340.00 to $360.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 22.60% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company raised their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler raised their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Scotiabank started coverage on shares of Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. DA Davidson assumed coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Finally, Barclays boosted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.95.

Autodesk Stock Up 0.3 %

Shares of Autodesk stock opened at $293.63 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a market cap of $63.13 billion, a P/E ratio of 58.26, a PEG ratio of 3.62 and a beta of 1.43. The company’s fifty day simple moving average is $298.71 and its two-hundred day simple moving average is $266.17.

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

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the 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 transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,386 shares of company stock worth $403,308 over the last three months. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently made changes to their positions in ADSK. Starboard Value LP purchased a new position in Autodesk during the third quarter valued at $510,189,000. Van ECK Associates Corp raised its stake in shares of Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after buying an additional 662,339 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after acquiring an additional 566,826 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after acquiring an additional 452,728 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.