Autodesk (NASDAQ:ADSK) Price Target Lowered to $225.00 at Royal Bank of Canada

Autodesk (NASDAQ:ADSKGet Rating) had its price target dropped by equities research analysts at Royal Bank of Canada from $260.00 to $225.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Royal Bank of Canada’s target price suggests a potential upside of 14.17% from the stock’s previous close.

Several other research analysts also recently commented on ADSK. Deutsche Bank Aktiengesellschaft lowered their target price on Autodesk from $255.00 to $225.00 in a research note on Wednesday. StockNews.com began coverage on Autodesk in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Wolfe Research began coverage on Autodesk in a research note on Tuesday, August 16th. They set an “outperform” rating and a $270.00 target price for the company. Mizuho downgraded Autodesk from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $210.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. started coverage on Autodesk in a research note on Friday, September 16th. They set a “neutral” rating and a $203.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $240.19.

Autodesk Trading Down 5.7 %

ADSK opened at $197.07 on Wednesday. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38. The company has a 50-day simple moving average of $201.56 and a 200 day simple moving average of $198.86. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 69.64, a P/E/G ratio of 1.85 and a beta of 1.49.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 earnings per share 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 analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Autodesk’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Autodesk will post 4.13 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the sale, the chief executive officer now directly owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently modified their holdings of ADSK. Shell Asset Management Co. boosted its holdings 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 buying an additional 386 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 buying an additional 20,165 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of Autodesk during the 1st quarter worth approximately $453,000. Benjamin F. Edwards & Company Inc. boosted its holdings 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 buying an additional 67 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Autodesk by 0.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,698 shares of the software company’s stock worth $4,436,000 after purchasing an additional 65 shares in 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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