Autodesk (NASDAQ:ADSK) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Posted by on May 27th, 2022

Autodesk (NASDAQ:ADSK – Get Rating) issued its earnings results on Thursday. The software company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09, RTT News reports. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. Autodesk’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS.

NASDAQ:ADSK traded up $5.10 during mid-day trading on Thursday, reaching $191.63. The stock had a trading volume of 2,276,649 shares, compared to its average volume of 1,899,407. The stock has a 50-day simple moving average of $198.81 and a two-hundred day simple moving average of $235.31. The stock has a market capitalization of $41.73 billion, a PE ratio of 85.93 and a beta of 1.44. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a 12 month low of $173.90 and a 12 month high of $344.39.

In other Autodesk news, CFO Deborah Clifford sold 1,820 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $386,386.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 1,626 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The disclosure for this sale can be found here. Insiders sold 7,458 shares of company stock worth $1,545,628 over the last three months. 0.11% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in shares of Autodesk by 72.8% during the first quarter. Advisory Services Network LLC now owns 4,829 shares of the software company’s stock worth $1,036,000 after purchasing an additional 2,035 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Autodesk by 39.2% during the first quarter. EP Wealth Advisors LLC now owns 1,901 shares of the software company’s stock worth $407,000 after purchasing an additional 535 shares during the period. Toroso Investments LLC lifted its holdings in shares of Autodesk by 11.6% during the first quarter. Toroso Investments LLC now owns 8,843 shares of the software company’s stock worth $1,895,000 after purchasing an additional 919 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Autodesk during the first quarter worth $27,284,000. Finally, Walleye Capital LLC acquired a new position in shares of Autodesk during the first quarter worth $249,000. Institutional investors own 89.55% of the company’s stock.

Several research firms have weighed in on ADSK. Argus lowered their price target on shares of Autodesk from $360.00 to $290.00 in a report on Monday, February 28th. KeyCorp lowered their price target on shares of Autodesk from $300.00 to $260.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Stifel Nicolaus lowered their price target on shares of Autodesk from $285.00 to $230.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price target on shares of Autodesk from $355.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Finally, OTR Global raised shares of Autodesk to a “positive” rating in a report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $268.75.

Autodesk Company Profile (Get Rating)

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.

Featured Stories

Earnings History for Autodesk (NASDAQ:ADSK)

Want More Great Investing Ideas?

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.