Autodesk (NASDAQ:ADSK) Given New $244.00 Price Target at Robert W. Baird

Autodesk (NASDAQ:ADSKGet Rating) had its price objective decreased by analysts at Robert W. Baird from $255.00 to $244.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 23.81% from the stock’s current price.

ADSK has been the topic of a number of other research reports. StockNews.com began coverage on shares of Autodesk in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Oppenheimer decreased their target price on shares of Autodesk from $255.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wolfe Research assumed coverage on shares of Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 target price for the company. Moffett Nathanson assumed coverage on shares of Autodesk in a report on Thursday, September 22nd. They issued a “sell” rating and a $206.00 target price for the company. Finally, Rosenblatt Securities cut their target price on shares of Autodesk from $285.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $240.19.

Autodesk Stock Down 5.7 %

Shares of NASDAQ ADSK opened at $197.07 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. Autodesk has a 12 month low of $163.20 and a 12 month high of $285.38. The firm has a market capitalization of $42.54 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.49. The firm has a fifty day simple moving average of $201.56 and a two-hundred day simple moving average of $198.86.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 EPS for the quarter, hitting the consensus estimate of $1.70. Autodesk had a net margin of 12.64% and a return on equity of 113.63%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts expect that Autodesk will post 4.13 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction on Monday, August 29th. The stock was sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the sale, the chief executive officer now directly owns 76,968 shares in the company, valued at $15,922,370.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the business. First Manhattan Co. lifted its position in shares of Autodesk by 342.9% during the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. TD Capital Management LLC bought a new position in Autodesk in the third quarter worth about $30,000. Venture Visionary Partners LLC bought a new position in Autodesk in the second quarter worth about $30,000. Resources Management Corp CT ADV raised its holdings in Autodesk by 1,100.0% in the second quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock worth $31,000 after purchasing an additional 165 shares in the last quarter. Finally, CNB Bank grew its stake in shares of Autodesk by 107.9% during the second quarter. CNB Bank now owns 185 shares of the software company’s stock worth $32,000 after acquiring an additional 96 shares during the last quarter. 86.44% of the stock is currently owned by institutional investors.

Autodesk Company Profile

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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.

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