Autodesk’s (ADSK) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Friday morning, Benzinga reports. Stifel Nicolaus currently has a $316.00 price objective on the software company’s stock.

Several other analysts have also commented on ADSK. Barclays increased their price objective on Autodesk from $300.00 to $310.00 and gave the company an overweight rating in a report on Friday, March 1st. Piper Sandler increased their price objective on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a report on Friday, March 1st. Oppenheimer increased their price objective on Autodesk from $265.00 to $315.00 and gave the company an outperform rating in a report on Friday, March 1st. Rosenblatt Securities increased their price objective on Autodesk from $265.00 to $290.00 and gave the company a buy rating in a report on Friday, March 1st. Finally, Piper Sandler Companies increased their price objective on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $272.44.

Autodesk Stock Down 1.7 %

Shares of NASDAQ ADSK opened at $236.98 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $50.69 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 3.29 and a beta of 1.43. The stock’s fifty day simple moving average is $255.73 and its two-hundred day simple moving average is $234.47. Autodesk has a 12-month low of $188.38 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts expect that Autodesk will post 5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,770 shares of company stock valued at $12,065,385. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of ADSK. O Shaughnessy Asset Management LLC boosted its holdings in Autodesk by 86.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock worth $1,959,000 after buying an additional 4,381 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Autodesk in the 3rd quarter worth about $330,000. International Assets Investment Management LLC boosted its holdings in Autodesk by 3,539.1% in the 4th quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock worth $55,370,000 after buying an additional 221,161 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its holdings in Autodesk by 60.5% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 19,776 shares of the software company’s stock worth $4,092,000 after buying an additional 7,451 shares during the last quarter. Finally, Columbia Trust Co 01012016 boosted its holdings in Autodesk by 13.1% in the 4th quarter. Columbia Trust Co 01012016 now owns 4,355 shares of the software company’s stock worth $1,060,000 after buying an additional 503 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.