Autodesk, Inc. (NASDAQ:ADSK) Given Consensus Rating of “Moderate Buy” by Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has earned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $323.95.

A number of equities research analysts have weighed in on ADSK shares. Stifel Nicolaus raised their price objective on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their price target on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. BMO Capital Markets upped their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Bank of America raised their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Oppenheimer upped their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

Autodesk Price Performance

Shares of ADSK stock opened at $292.83 on Thursday. The firm has a fifty day simple moving average of $298.39 and a 200-day simple moving average of $265.98. The company has a market capitalization of $62.96 billion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 3.62 and a beta of 1.43. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Autodesk will post 5.76 earnings per share 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 transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk 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 completion of the sale, the director now owns 30,249 shares in the company, 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. Insiders have sold 1,386 shares of company stock valued at $403,308 over the last three months. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Financial Group LLC raised its stake in Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares in the last quarter. Avitas Wealth Management LLC increased its holdings in shares of Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after purchasing an additional 42 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in shares of Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after purchasing an additional 44 shares in the last quarter. Meeder Asset Management Inc. grew its position in Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after buying an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after buying an additional 45 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

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.