Autodesk (NASDAQ:ADSK) PT Raised to $260.00

Autodesk (NASDAQ:ADSKGet Rating) had its price objective hoisted by Robert W. Baird from $255.00 to $260.00 in a research report issued to clients and investors on Friday, The Fly reports. Robert W. Baird’s target price points to a potential upside of 35.68% from the stock’s previous close.

ADSK has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on shares of Autodesk from $285.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group restated a “sell” rating and issued a $220.00 target price (down from $250.00) on shares of Autodesk in a report on Tuesday, March 8th. OTR Global raised shares of Autodesk to a “positive” rating in a research report on Thursday, May 5th. Morgan Stanley lowered their target price on shares of Autodesk from $344.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 23rd. Finally, Rosenblatt Securities dropped their price objective on shares of Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $264.70.

ADSK opened at $191.63 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.68. Autodesk has a twelve month low of $173.90 and a twelve month high of $344.39. The company has a market capitalization of $41.73 billion, a price-to-earnings ratio of 85.93 and a beta of 1.44. The firm has a 50-day moving average price of $198.81 and a 200-day moving average price of $235.31.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The software company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. Autodesk’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. On average, sell-side analysts expect that Autodesk will post 4.25 earnings per share for the current fiscal year.

In related news, CAO Stephen W. Hope sold 1,626 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $212.30, for a total value of $345,199.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Deborah Clifford sold 1,820 shares of the business’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $212.30, for a total value of $386,386.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,458 shares of company stock valued at $1,545,628. Company insiders own 0.11% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Martin Currie Ltd. grew its stake in Autodesk by 2.1% in the 1st quarter. Martin Currie Ltd. now owns 369,643 shares of the software company’s stock valued at $79,233,000 after buying an additional 7,689 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Autodesk by 29.0% in the 1st quarter. Ninety One UK Ltd now owns 3,393,123 shares of the software company’s stock worth $727,316,000 after purchasing an additional 762,242 shares during the last quarter. Trust Co. of Oklahoma grew its position in Autodesk by 8.9% during the 1st quarter. Trust Co. of Oklahoma now owns 3,500 shares of the software company’s stock worth $750,000 after acquiring an additional 286 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Autodesk by 72.8% in the first quarter. Advisory Services Network LLC now owns 4,829 shares of the software company’s stock valued at $1,036,000 after buying an additional 2,035 shares during the last quarter. Finally, Sawtooth Solutions LLC lifted its holdings in Autodesk by 13.9% during the 1st quarter. Sawtooth Solutions LLC now owns 3,581 shares of the software company’s stock worth $768,000 after buying an additional 437 shares in the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.

About Autodesk (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.

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