Autodesk, Inc. (NASDAQ:ADSK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Autodesk, Inc. (NASDAQ:ADSK) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $296.20.

ADSK has been the subject of a number of research analyst reports. Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. BMO Capital Markets raised their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Mizuho set a $260.00 target price on Autodesk in a report on Friday, October 18th. Finally, Citigroup set a $325.00 price target on Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s 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 sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently modified their holdings of the company. Jag Capital Management LLC acquired a new position in Autodesk in the third quarter valued at $13,861,000. Cetera Investment Advisers raised its holdings in Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares during the period. Forsta AP Fonden lifted its position in Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares in the last quarter. QRG Capital Management Inc. grew its stake in Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after buying an additional 3,259 shares during the period. Finally, Primecap Management Co. CA increased its position in shares of Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after acquiring an additional 49,500 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of ADSK stock opened at $299.15 on Friday. The firm’s 50-day moving average is $281.32 and its two-hundred day moving average is $251.23. The company has a market capitalization of $64.32 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 4.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk has a 12 month low of $195.32 and a 12 month high of $315.73.

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

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.