Autodesk (NASDAQ:ADSK) Price Target Raised to $360.00

Autodesk (NASDAQ:ADSK) had its target price hoisted by investment analysts at Stifel Nicolaus from $340.00 to $360.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 19.42% from the stock’s previous close.

A number of other brokerages have also recently commented on ADSK. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Mizuho boosted their target price on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Rosenblatt Securities boosted their target price on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird boosted their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.95.

Autodesk Trading Down 0.5 %

NASDAQ:ADSK traded down $1.37 during trading hours on Wednesday, hitting $301.45. The company had a trading volume of 234,489 shares, compared to its average volume of 1,580,737. The company has a market capitalization of $64.81 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 3.62 and a beta of 1.43. The stock has a 50-day moving average price of $298.07 and a 200 day moving average price of $265.79. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. On average, equities research analysts predict that Autodesk will post 5.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,386 shares of company stock valued at $403,308. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC increased its holdings in Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after acquiring an additional 61,785 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Autodesk by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after acquiring an additional 81,314 shares in the last quarter. Hedge funds and other 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.