Autodesk, Inc. (NASDAQ:ADSK) Receives $323.95 Average Target Price from Brokerages

Shares of Autodesk, Inc. (NASDAQ:ADSK) have received an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $326.05.

Several research firms have weighed in on ADSK. Macquarie started coverage on shares of Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective on the stock. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. KeyCorp increased their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Scotiabank began coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Graypoint LLC raised its stake in Autodesk by 3.1% during the 4th quarter. Graypoint LLC now owns 3,937 shares of the software company’s stock valued at $1,164,000 after purchasing an additional 119 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Autodesk by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,045 shares of the software company’s stock valued at $4,696,000 after buying an additional 106 shares during the period. Baker Tilly Wealth Management LLC grew its position in Autodesk by 2.4% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 4,844 shares of the software company’s stock worth $1,432,000 after buying an additional 112 shares in the last quarter. First Hawaiian Bank increased its stake in Autodesk by 1.6% during the fourth quarter. First Hawaiian Bank now owns 13,261 shares of the software company’s stock valued at $3,920,000 after acquiring an additional 205 shares during the period. Finally, Fulton Bank N.A. acquired a new position in Autodesk in the 4th quarter valued at approximately $211,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $284.96 on Monday. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market capitalization of $61.27 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 3.62 and a beta of 1.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $301.41 and its 200 day simple moving average is $274.29.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal 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.