Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00 at Robert W. Baird

Autodesk (NASDAQ:ADSK) had its target price raised by stock analysts at Robert W. Baird from $305.00 to $330.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the software company’s stock. Robert W. Baird’s target price indicates a potential upside of 10.31% from the stock’s previous close.

ADSK has been the subject of a number of other reports. Wells Fargo & Company began coverage on Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target for the company. KeyCorp reiterated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a report on Monday, August 26th. Bank of America boosted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Finally, Mizuho set a $260.00 target price on Autodesk in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.25.

Autodesk Trading Down 2.4 %

Shares of NASDAQ ADSK opened at $299.15 on Monday. The company’s 50 day simple moving average is $281.32 and its 200 day simple moving average is $251.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The firm has a market capitalization of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. On average, analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jag Capital Management LLC acquired a new position in Autodesk during the third quarter worth $13,861,000. Cetera Investment Advisers increased its stake in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares during the period. QRG Capital Management Inc. lifted its stake in Autodesk by 32.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the period. Institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.