Autodesk (NASDAQ:ADSK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Autodesk is gaining from strong growth in product subscriptions. The company's business model transition along with robust product portfolio, accretive acquisitions and strong cash position will fuel long term growth. Autodesk's expanding product portfolio is expected to generate new customers in both domestic and overseas markets. Estimates have been stable lately ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. However, shares have underperformed the industry in the past year. The restructuring plan will remain an overhang on the stock in the near term. It is also anticipated to remain a drag on margins. The company’s top-line will also continue to be impacted by the business model transition to “ratably” as against realized “upfront” earlier on.”
Several other research firms have also recently commented on ADSK. Deutsche Bank set a $140.00 target price on shares of Autodesk and gave the company a “buy” rating in a research note on Wednesday, November 29th. Evercore ISI set a $135.00 price objective on shares of Autodesk and gave the company a “buy” rating in a research note on Wednesday, December 20th. Canaccord Genuity restated a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Autodesk in a research note on Thursday, November 16th. OTR Global upgraded shares of Autodesk to a “positive” rating in a research note on Monday, February 5th. Finally, Guggenheim increased their price objective on shares of Autodesk from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $132.68.
Autodesk (ADSK) traded up $2.48 during trading hours on Monday, reaching $108.42. 1,120,000 shares of the company traded hands, compared to its average volume of 2,120,000. The firm has a market cap of $23,880.00, a PE ratio of -42.19, a P/E/G ratio of 14.30 and a beta of 1.91. Autodesk has a 1 year low of $81.75 and a 1 year high of $131.10. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.78.
Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The firm had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $513.63 million. Autodesk had a negative net margin of 28.46% and a negative return on equity of 93.60%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) EPS. research analysts forecast that Autodesk will post -1.36 EPS for the current fiscal year.
In other Autodesk news, Director Crawford W. Beveridge sold 1,500 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 5,738 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $128.14, for a total transaction of $735,267.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,248 shares of company stock worth $2,148,546. Insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its holdings in Autodesk by 0.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,511 shares of the software company’s stock worth $858,000 after acquiring an additional 42 shares during the last quarter. Smithfield Trust Co. grew its holdings in Autodesk by 20.6% during the 3rd quarter. Smithfield Trust Co. now owns 2,590 shares of the software company’s stock worth $291,000 after acquiring an additional 443 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Autodesk by 3.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,908 shares of the software company’s stock valued at $1,201,000 after purchasing an additional 445 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Autodesk by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 3,150 shares of the software company’s stock valued at $330,000 after purchasing an additional 495 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Autodesk by 2.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,190 shares of the software company’s stock valued at $2,614,000 after purchasing an additional 500 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
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Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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