Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Autodesk (NASDAQ:ADSK) had its target price increased by research analysts at BMO Capital Markets from $287.00 to $308.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the software company’s stock. BMO Capital Markets’ price target indicates a potential downside of 3.13% from the company’s current price.

A number of other brokerages have also issued reports on ADSK. Berenberg Bank raised their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Robert W. Baird lifted their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Citigroup boosted their price objective on shares of Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, Piper Sandler boosted their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $311.86.

Autodesk Stock Down 0.4 %

Shares of NASDAQ:ADSK opened at $317.96 on Wednesday. The firm has a fifty day moving average price of $288.49 and a two-hundred day moving average price of $256.59. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 65.02, a PEG ratio of 4.08 and a beta of 1.47. 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 one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. Analysts anticipate that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on 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 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. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last quarter. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

Several large investors have recently modified their holdings of ADSK. Marshall Financial Group LLC lifted its holdings in Autodesk by 0.8% in the third 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 during the period. Avitas Wealth Management LLC increased its position in shares of Autodesk by 0.8% during the 3rd 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 last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Autodesk by 28.9% in the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock worth $54,000 after buying an additional 44 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Autodesk by 5.1% during the second 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 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.