Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “overweight” rating restated by stock analysts at KeyCorp in a report issued on Thursday. They presently have a $136.00 price objective on the software company’s stock, up from their previous price objective of $127.00. KeyCorp’s price target would indicate a potential upside of 6.68% from the stock’s current price.
A number of other research firms have also weighed in on ADSK. Cowen and Company reaffirmed a “buy” rating and set a $115.00 price objective on shares of Autodesk in a research report on Friday, August 18th. Berenberg Bank initiated coverage on Autodesk in a research report on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $125.00 target price (up previously from $120.00) on shares of Autodesk in a report on Friday, August 25th. Evercore ISI reissued an “outperform” rating and issued a $135.00 target price on shares of Autodesk in a report on Friday, August 25th. Finally, Credit Suisse Group increased their target price on Autodesk from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $124.50.
Shares of Autodesk (NASDAQ ADSK) opened at $127.49 on Thursday. Autodesk has a 12-month low of $68.06 and a 12-month high of $127.92. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.22 and a current ratio of 1.22.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. The business had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. research analysts predict that Autodesk will post -1.38 earnings per share for the current year.
In other news, insider Andrew Anagnost sold 24,004 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $112.73, for a total transaction of $2,705,970.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 580 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders have sold 79,789 shares of company stock valued at $9,189,363 in the last quarter. Insiders own 6.10% of the company’s stock.
A number of large investors have recently made changes to their positions in ADSK. Parallel Advisors LLC lifted its position in Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock valued at $121,000 after purchasing an additional 44 shares during the period. Cable Hill Partners LLC lifted its position in Autodesk by 276.7% in the third quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock valued at $145,000 after purchasing an additional 949 shares during the period. Harfst & Associates Inc. acquired a new stake in Autodesk in the second quarter valued at about $150,000. IFP Advisors Inc lifted its position in Autodesk by 9.3% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock valued at $171,000 after purchasing an additional 145 shares during the period. Finally, Kanawha Capital Management LLC acquired a new stake in Autodesk in the second quarter valued at about $202,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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