Autodesk (NASDAQ:ADSK) Hits New 12-Month Low Following Analyst Downgrade

Autodesk, Inc. (NASDAQ:ADSK)’s stock price hit a new 52-week low during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $365.00 to $310.00. Stifel Nicolaus currently has a buy rating on the stock. Autodesk traded as low as $252.21 and last traded at $257.31, with a volume of 96139 shares changing hands. The stock had previously closed at $304.00.

A number of other equities analysts have also recently issued reports on the stock. Guggenheim reiterated a “hold” rating on shares of Autodesk in a research report on Monday, September 6th. Rosenblatt Securities lowered their price objective on shares of Autodesk from $355.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Autodesk from $363.00 to $343.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Autodesk from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 17th. Finally, Mizuho lowered their price objective on shares of Autodesk from $380.00 to $330.00 and set a “buy” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $342.71.

In other news, CFO Deborah Clifford sold 5,481 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total value of $1,588,448.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 262 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total transaction of $75,052.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,263 shares of company stock worth $2,384,406. Insiders own 0.11% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Aviva PLC lifted its stake in shares of Autodesk by 45.3% in the second quarter. Aviva PLC now owns 106,619 shares of the software company’s stock valued at $31,122,000 after buying an additional 33,239 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Autodesk by 5.5% in the second quarter. Impax Asset Management Group plc now owns 974,799 shares of the software company’s stock valued at $284,544,000 after buying an additional 50,636 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Autodesk by 48.3% in the second quarter. Bank of Montreal Can now owns 798,153 shares of the software company’s stock valued at $237,778,000 after buying an additional 259,899 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Autodesk in the second quarter valued at $9,073,000. Finally, Boston Financial Mangement LLC lifted its stake in shares of Autodesk by 380.2% in the second quarter. Boston Financial Mangement LLC now owns 3,477 shares of the software company’s stock valued at $1,015,000 after buying an additional 2,753 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The business’s 50 day simple moving average is $300.42 and its two-hundred day simple moving average is $298.65. The stock has a market capitalization of $56.48 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.36. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 23rd. The software company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Analysts predict that Autodesk, Inc. will post 2.86 earnings per share for the current year.

Autodesk Company Profile (NASDAQ:ADSK)

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

Featured Article: Why do companies issue stock splits?

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.