Autodesk (NASDAQ:ADSK) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Autodesk (NASDAQ:ADSK – Get Rating) in a research report report published on Thursday. The brokerage issued a buy rating on the software company’s stock.

Several other brokerages also recently issued reports on ADSK. Berenberg Bank initiated coverage on Autodesk in a research note on Wednesday, January 11th. They issued a buy rating and a $230.00 price objective for the company. Moffett Nathanson cut their price target on Autodesk to $177.00 in a research note on Thursday, November 24th. Mizuho increased their price objective on Autodesk from $200.00 to $220.00 and gave the company a neutral rating in a report on Wednesday, February 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Autodesk from $255.00 to $225.00 in a report on Wednesday, November 23rd. Finally, Citigroup lowered their price objective on Autodesk from $277.00 to $256.00 and set a buy rating on the stock in a report on Friday, November 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $232.40.

Autodesk Trading Down 0.7 %

Shares of NASDAQ ADSK opened at $199.11 on Thursday. Autodesk has a 12 month low of $163.20 and a 12 month high of $235.01. The company has a market cap of $42.76 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 1.81 and a beta of 1.51. The company has a quick ratio of 0.73, a current ratio of 0.84 and a debt-to-equity ratio of 1.99. The business has a fifty day simple moving average of $208.63 and a 200-day simple moving average of $202.37.

Autodesk (NASDAQ:ADSK – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.05. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Sell-side analysts predict that Autodesk will post 4.49 EPS for the current year.

Autodesk announced that its Board of Directors has approved a share repurchase program on Tuesday, November 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $190.96, for a total transaction of $59,006.64. Following the completion of the sale, the director now directly owns 5,433 shares of the company’s stock, valued at $1,037,485.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $190.96, for a total transaction of $59,006.64. Following the completion of the sale, the director now directly owns 5,433 shares of the company’s stock, valued at $1,037,485.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Deborah Clifford sold 1,557 shares of Autodesk stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $205.71, for a total value of $320,290.47. Following the sale, the chief financial officer now directly owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The disclosure for this sale can be found here. Insiders sold a total of 3,717 shares of company stock valued at $746,462 over the last three months. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. grew its stake in Autodesk by 346.9% in the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock valued at $38,000 after acquiring an additional 170 shares during the period. Natixis Investment Managers International lifted its holdings in shares of Autodesk by 126.5% in the second quarter. Natixis Investment Managers International now owns 8,677 shares of the software company’s stock valued at $1,492,000 after purchasing an additional 4,846 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Autodesk by 111.8% in the third quarter. CVA Family Office LLC now owns 341 shares of the software company’s stock valued at $64,000 after purchasing an additional 180 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Autodesk by 4.7% in the second quarter. Apollon Wealth Management LLC now owns 2,564 shares of the software company’s stock valued at $441,000 after purchasing an additional 114 shares in the last quarter. Finally, Avitas Wealth Management LLC bought a new stake in shares of Autodesk in the third quarter valued at about $783,000. 87.89% of the stock is owned by institutional investors and hedge funds.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.