Evercore ISI reissued their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research note issued to investors on Sunday, AnalystRatings.com reports. Evercore ISI currently has a $190.00 price target on the software company’s stock.
Several other equities analysts have also issued reports on the company. Credit Suisse Group restated an outperform rating and set a $175.00 price target (down from $188.00) on shares of Autodesk in a research report on Wednesday, August 28th. Oppenheimer lowered their price objective on Autodesk from $190.00 to $175.00 and set an outperform rating for the company in a research report on Wednesday, August 28th. Zacks Investment Research lowered Autodesk from a hold rating to a strong sell rating and set a $169.00 price objective for the company. in a research note on Monday, June 3rd. Barclays cut their target price on shares of Autodesk from $199.00 to $173.00 and set an overweight rating on the stock in a report on Wednesday, August 28th. Finally, Deutsche Bank downgraded shares of Autodesk from a buy rating to a hold rating and decreased their target price for the stock from $180.00 to $165.00 in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $169.48.
Shares of NASDAQ:ADSK opened at $148.05 on Friday. The stock has a market cap of $33.02 billion, a PE ratio of 1,345.91, a PEG ratio of 2.62 and a beta of 1.84. The company’s fifty day moving average is $150.04 and its 200 day moving average is $161.73. Autodesk has a 52 week low of $117.72 and a 52 week high of $178.95.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, August 27th. The software company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Autodesk had a net margin of 1.95% and a negative return on equity of 59.32%. The business had revenue of $796.80 million for the quarter, compared to analysts’ expectations of $788.00 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Autodesk will post 1.51 EPS for the current fiscal year.
In related news, CEO Andrew Anagnost sold 2,434 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $169.47, for a total transaction of $412,489.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen Blasing sold 1,300 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $164.54, for a total transaction of $213,902.00. The disclosure for this sale can be found here. Insiders sold 6,036 shares of company stock valued at $987,926 in the last ninety days. 0.12% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Autodesk by 7.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,863 shares of the software company’s stock valued at $10,240,000 after buying an additional 4,504 shares during the period. Keudell Morrison Wealth Management bought a new stake in shares of Autodesk in the 2nd quarter worth approximately $2,288,000. Treasurer of the State of North Carolina grew its stake in shares of Autodesk by 51.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 137,829 shares of the software company’s stock worth $22,452,000 after buying an additional 47,045 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Autodesk in the 2nd quarter worth approximately $209,000. Finally, RFG Advisory LLC bought a new position in Autodesk during the 2nd quarter valued at approximately $450,000. 93.38% of the stock is owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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