Autodesk (NASDAQ:ADSK) Stock Rating Upgraded by Guggenheim

Autodesk (NASDAQ:ADSK) was upgraded by research analysts at Guggenheim to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on ADSK. BMO Capital Markets lowered their price target on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Royal Bank Of Canada decreased their target price on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Weiss Ratings lowered Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Rosenblatt Securities restated a “buy” rating and set a $330.00 price target on shares of Autodesk in a research note on Monday, June 1st. Finally, Loop Capital reduced their target price on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.40.

Autodesk Stock Performance

Shares of Autodesk stock opened at $205.26 on Wednesday. Autodesk has a 12 month low of $185.50 and a 12 month high of $329.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market cap of $43.31 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32. The business has a fifty day simple moving average of $215.47 and a 200-day simple moving average of $235.50.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $2.29 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. On average, sell-side analysts anticipate that Autodesk will post 9.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Janesh Moorjani bought 2,500 shares of Autodesk stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares of the company’s stock, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 7,935 shares of company stock worth $1,666,644. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management lifted its stake in Autodesk by 246.4% in the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock worth $15,585,000 after acquiring an additional 37,449 shares during the period. SG Americas Securities LLC increased its position in Autodesk by 158.4% during the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock valued at $65,248,000 after purchasing an additional 167,064 shares during the period. Man Group plc increased its position in Autodesk by 28.6% during the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock valued at $364,076,000 after purchasing an additional 273,765 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Autodesk by 46.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company’s stock worth $157,627,000 after purchasing an additional 169,099 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Autodesk by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company’s stock worth $280,166,000 after purchasing an additional 4,845 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.