Sanford C. Bernstein lowered shares of Autodesk (NASDAQ:ADSK) from an outperform rating to a market perform rating in a report issued on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $197.00 target price on the software company’s stock, up from their previous target price of $189.00.
A number of other brokerages have also recently issued reports on ADSK. Royal Bank of Canada increased their price objective on Autodesk from $175.00 to $189.00 and gave the stock a buy rating in a report on Wednesday, November 27th. BidaskClub raised Autodesk from a buy rating to a strong-buy rating in a report on Wednesday, November 27th. KeyCorp increased their price objective on Autodesk from $191.00 to $210.00 and gave the stock an overweight rating in a report on Friday, January 10th. Zacks Investment Research cut Autodesk from a hold rating to a sell rating and set a $189.00 price objective on the stock. in a report on Thursday, November 28th. Finally, Mizuho increased their price objective on Autodesk from $190.00 to $195.00 and gave the stock an outperform rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Autodesk currently has an average rating of Hold and an average target price of $185.50.
Shares of NASDAQ ADSK opened at $190.79 on Monday. Autodesk has a one year low of $129.70 and a one year high of $193.42. The business’s fifty day moving average price is $183.47 and its 200-day moving average price is $161.49. The stock has a market capitalization of $42.05 billion, a PE ratio of 1,734.45, a P/E/G ratio of 3.43 and a beta of 1.89.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Autodesk had a negative return on equity of 113.06% and a net margin of 4.74%. The firm had revenue of $842.70 million for the quarter, compared to analysts’ expectations of $823.95 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts forecast that Autodesk will post 1.47 earnings per share for the current fiscal year.
In other Autodesk news, SVP Carmel Galvin sold 4,994 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $185.00, for a total value of $923,890.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.12% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Autodesk by 0.4% during the 3rd quarter. State Street Corp now owns 8,656,573 shares of the software company’s stock valued at $1,278,576,000 after purchasing an additional 36,322 shares during the last quarter. Invesco Ltd. grew its position in Autodesk by 2.3% during the 2nd quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock worth $498,585,000 after acquiring an additional 67,647 shares during the last quarter. Findlay Park Partners LLP grew its position in Autodesk by 18.1% during the 3rd quarter. Findlay Park Partners LLP now owns 2,346,803 shares of the software company’s stock worth $346,623,000 after acquiring an additional 360,000 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Autodesk by 13.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,157,065 shares of the software company’s stock worth $318,599,000 after acquiring an additional 259,695 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Autodesk by 489.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,152,889 shares of the software company’s stock worth $187,805,000 after acquiring an additional 957,445 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
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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