Barclays Reaffirms “Overweight” Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “overweight” rating reissued by equities researchers at Barclays in a note issued to investors on Tuesday, November 21st, Marketbeat reports. They currently have a $135.00 price objective on the software company’s stock, up from their prior price objective of $125.00. Barclays’ price target points to a potential upside of 23.16% from the company’s current price.

ADSK has been the subject of several other reports. Sanford C. Bernstein restated an “outperform” rating and set a $138.00 price target (up from $137.00) on shares of Autodesk in a report on Friday, August 11th. BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Cowen restated a “buy” rating and set a $115.00 price target on shares of Autodesk in a report on Friday, August 18th. Robert W. Baird set a $125.00 price target on shares of Autodesk and gave the stock a “buy” rating in a report on Sunday, October 1st. Finally, OTR Global cut shares of Autodesk to a “positive” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $130.10.

Shares of Autodesk (NASDAQ:ADSK) traded up $2.69 on Tuesday, hitting $109.61. 3,073,304 shares of the company’s stock traded hands, compared to its average volume of 2,132,263. Autodesk has a one year low of $73.60 and a one year high of $131.10. The company has a quick ratio of 1.22, a current ratio of 1.07 and a debt-to-equity ratio of 14.78.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Autodesk had a negative net margin of 28.46% and a negative return on equity of 93.60%. The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $513.63 million. During the same period last year, the company posted ($0.18) earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. analysts anticipate that Autodesk will post -1.36 earnings per share for the current fiscal year.

In other news, SVP Fronzo Pascal W. Di sold 19,577 shares of Autodesk stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $125.00, for a total value of $2,447,125.00. The transaction 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 Autodesk stock in a transaction that occurred on Friday, November 24th. The shares were 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 sold 61,523 shares of company stock worth $7,218,659. Insiders own 6.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Andra AP fonden increased its position in Autodesk by 6.4% during the second quarter. Andra AP fonden now owns 25,100 shares of the software company’s stock worth $2,531,000 after acquiring an additional 1,500 shares during the period. Eagle Asset Management Inc. increased its position in Autodesk by 5.0% during the second quarter. Eagle Asset Management Inc. now owns 349,499 shares of the software company’s stock worth $35,236,000 after acquiring an additional 16,629 shares during the period. Advisor Group Inc. increased its position in Autodesk by 17.7% during the second quarter. Advisor Group Inc. now owns 6,584 shares of the software company’s stock worth $664,000 after acquiring an additional 989 shares during the period. Lucha Capital Management LP bought a new position in Autodesk during the second quarter worth $8,425,000. Finally, Pacad Investment Ltd. bought a new position in Autodesk during the second quarter worth $2,168,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

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Autodesk Company Profile

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).

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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