Autodesk (NASDAQ:ADSK) Price Target Cut to $225.00 by Analysts at Bank of America

Autodesk (NASDAQ:ADSKGet Rating) had its price objective decreased by stock analysts at Bank of America from $240.00 to $225.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the software company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.17% from the stock’s current price.

A number of other analysts have also recently weighed in on ADSK. Mizuho cut Autodesk from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $210.00 in a research report on Wednesday. Credit Suisse Group dropped their price target on Autodesk from $355.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com began coverage on Autodesk in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Barclays dropped their price target on Autodesk from $275.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Autodesk from $225.00 to $255.00 in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $240.19.

Autodesk Trading Down 5.7 %

Shares of NASDAQ ADSK opened at $197.07 on Wednesday. The stock’s 50 day moving average price is $201.56 and its two-hundred day moving average price is $198.86. Autodesk has a 52-week low of $163.20 and a 52-week high of $285.38. The stock has a market capitalization of $42.54 billion, a P/E ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08.

Autodesk (NASDAQ:ADSKGet Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.70. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Autodesk’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts anticipate that Autodesk will post 4.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of the 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 transaction, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Several large investors have recently modified their holdings of ADSK. Shell Asset Management Co. boosted its stake in shares of Autodesk by 2.4% during the 1st quarter. Shell Asset Management Co. now owns 16,643 shares of the software company’s stock worth $3,567,000 after acquiring an additional 386 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Autodesk by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 531,864 shares of the software company’s stock worth $114,005,000 after acquiring an additional 20,165 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Autodesk during the 1st quarter worth $453,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Autodesk by 2.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,405 shares of the software company’s stock worth $516,000 after acquiring an additional 67 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Autodesk by 0.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,698 shares of the software company’s stock worth $4,436,000 after acquiring an additional 65 shares in the last quarter. 86.44% of the stock is 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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