Autodesk (NASDAQ:ADSK) Announces Quarterly Earnings Results, Hits Expectations

Autodesk (NASDAQ:ADSKGet Rating) released its quarterly earnings data on Tuesday. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70, Yahoo Finance reports. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $0.68 earnings per share. Autodesk’s revenue was up 13.7% compared to the same quarter last year.

Autodesk Stock Down 5.7 %

Shares of Autodesk stock opened at $197.07 on Thursday. Autodesk has a 52-week low of $163.20 and a 52-week high of $285.38. The company has a 50 day moving average of $201.79 and a 200 day moving average of $198.87. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The company has a market capitalization of $42.54 billion, a P/E ratio of 77.89, a P/E/G ratio of 1.83 and a beta of 1.49.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $206.87, for a total value of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Institutional Trading of Autodesk

Several institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Autodesk by 1.7% during the 1st quarter. Northern Trust Corp now owns 2,835,207 shares of the software company’s stock worth $607,727,000 after buying an additional 47,952 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Autodesk by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 1,934,110 shares of the software company’s stock worth $414,577,000 after buying an additional 7,454 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Autodesk by 21.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,183,689 shares of the software company’s stock worth $203,547,000 after buying an additional 205,595 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Autodesk by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,079,675 shares of the software company’s stock worth $231,429,000 after buying an additional 24,831 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Autodesk by 18.9% during the 1st quarter. Invesco Ltd. now owns 1,005,551 shares of the software company’s stock worth $215,538,000 after buying an additional 159,898 shares during the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADSK shares. Moffett Nathanson started coverage on shares of Autodesk in a research report on Thursday, September 22nd. They set a “sell” rating and a $206.00 price target for the company. Barclays dropped their price target on shares of Autodesk from $275.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday. KeyCorp dropped their price target on shares of Autodesk from $264.00 to $237.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of Autodesk from $270.00 to $220.00 in a research report on Wednesday. Finally, Citigroup dropped their price target on shares of Autodesk from $277.00 to $256.00 and set a “buy” rating for the company in a research report on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.57.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

See Also

Earnings History for Autodesk (NASDAQ:ADSK)

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