Autodesk (NASDAQ:ADSK) had its price target lifted by Robert W. Baird from $145.00 to $155.00 in a report issued on Wednesday. They currently have an outperform rating on the software company’s stock.
ADSK has been the subject of a number of other research reports. BidaskClub upgraded Autodesk from a hold rating to a buy rating in a research report on Wednesday, January 3rd. Credit Suisse Group reiterated an outperform rating and set a $150.00 price target (up previously from $135.00) on shares of Autodesk in a research report on Wednesday, March 7th. Oppenheimer started coverage on Autodesk in a research report on Friday, December 29th. They set an outperform rating and a $135.00 price target for the company. Zacks Investment Research lowered Autodesk from a hold rating to a sell rating in a research report on Monday, January 29th. Finally, KeyCorp reiterated a buy rating and set a $134.00 price target on shares of Autodesk in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $142.48.
Shares of ADSK stock opened at $129.17 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of -6.20. Autodesk has a 1 year low of $85.08 and a 1 year high of $141.26.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, March 6th. The software company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. The company had revenue of $554.00 million during the quarter, compared to analyst estimates of $544.74 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. research analysts forecast that Autodesk will post -0.03 EPS for the current year.
In other news, SVP Steven M. Blum sold 20,458 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $123.60, for a total transaction of $2,528,608.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Crawford W. Beveridge sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $133.11, for a total value of $199,665.00. The disclosure for this sale can be found here. Insiders have sold 48,475 shares of company stock worth $6,094,232 over the last ninety days. 6.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Viking Global Investors LP raised its position in shares of Autodesk by 68.5% during the fourth quarter. Viking Global Investors LP now owns 4,094,027 shares of the software company’s stock worth $429,177,000 after purchasing an additional 1,664,658 shares during the period. Geode Capital Management LLC raised its position in shares of Autodesk by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,430,659 shares of the software company’s stock worth $254,303,000 after purchasing an additional 91,011 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Autodesk by 3.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 1,876,485 shares of the software company’s stock worth $196,712,000 after purchasing an additional 68,904 shares during the period. Parnassus Investments CA raised its position in shares of Autodesk by 100.0% during the fourth quarter. Parnassus Investments CA now owns 1,800,000 shares of the software company’s stock worth $188,694,000 after purchasing an additional 900,000 shares during the period. Finally, Fred Alger Management Inc. raised its position in shares of Autodesk by 11.2% during the fourth quarter. Fred Alger Management Inc. now owns 1,705,316 shares of the software company’s stock worth $178,768,000 after purchasing an additional 171,827 shares during the period. 96.10% of the stock is currently owned by institutional investors.
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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; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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