Autodesk (NASDAQ:ADSK) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Autodesk (NASDAQ:ADSK – Get Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the software company’s stock.

Other equities analysts have also issued research reports about the stock. Argus dropped their price target on shares of Autodesk from $290.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st. Credit Suisse Group dropped their target price on shares of Autodesk from $325.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Robert W. Baird decreased their price target on shares of Autodesk from $255.00 to $247.00 in a report on Friday, February 24th. Bank of America lifted their price objective on Autodesk from $225.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Piper Sandler increased their target price on Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.40.

Autodesk Trading Down 0.7 %

Shares of NASDAQ:ADSK opened at $199.11 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $42.77 billion, a PE ratio of 52.67, a P/E/G ratio of 1.84 and a beta of 1.51. Autodesk has a 1 year low of $163.20 and a 1 year high of $235.01. The firm has a fifty day moving average price of $208.63 and a 200 day moving average price of $202.37.

Autodesk (NASDAQ:ADSK – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Analysts expect that Autodesk will post 4.49 EPS for the current fiscal year.

Autodesk declared that its board has approved a share repurchase program on Tuesday, November 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the software company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Ayanna Howard sold 410 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $188.67, for a total value of $77,354.70. Following the completion of the transaction, the director now owns 5,010 shares of the company’s stock, valued at $945,236.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ayanna Howard sold 410 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $188.67, for a total value of $77,354.70. Following the sale, the director now directly owns 5,010 shares in the company, valued at approximately $945,236.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Betsy Rafael sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $190.96, for a total value of $59,006.64. Following the transaction, the director now owns 5,433 shares of the company’s stock, valued at approximately $1,037,485.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,717 shares of company stock worth $746,462. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the company. Elequin Securities LLC bought a new position in Autodesk during the 4th quarter valued at about $26,000. Financial Avengers Inc. acquired a new stake in shares of Autodesk during the fourth quarter worth approximately $29,000. TD Capital Management LLC acquired a new stake in shares of Autodesk during the third quarter worth approximately $30,000. Tobam bought a new position in shares of Autodesk in the fourth quarter valued at approximately $33,000. Finally, First Manhattan Co. boosted its holdings in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 87.89% of the company’s stock.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.