Autodesk’s (ADSK) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Thursday morning,Benzinga reports. They currently have a $305.00 target price on the software company’s stock.

Several other equities research analysts also recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $330.00 price objective on shares of Autodesk in a report on Monday, August 31st. New Street Research set a $277.00 price target on Autodesk in a research note on Thursday, August 20th. DA Davidson set a $325.00 price target on Autodesk in a report on Friday, August 28th. Robert W. Baird upped their price objective on Autodesk from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Finally, Loop Capital dropped their price objective on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.03.

Autodesk Stock Down 0.8%

ADSK stock opened at $216.95 on Thursday. The firm has a 50-day moving average price of $233.39 and a 200-day moving average price of $231.70. Autodesk has a 12 month low of $185.50 and a 12 month high of $326.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $45.34 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities research analysts anticipate that Autodesk will post 9.71 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, Director John Cahill purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in Autodesk by 116.9% in the second quarter. The Manufacturers Life Insurance Company now owns 444,419 shares of the software company’s stock valued at $86,404,000 after buying an additional 239,524 shares during the period. National Pension Service raised its position in shares of Autodesk by 4.1% in the 2nd quarter. National Pension Service now owns 849,876 shares of the software company’s stock worth $165,233,000 after acquiring an additional 33,448 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of Autodesk by 438.6% in the 2nd quarter. WINTON GROUP Ltd now owns 35,659 shares of the software company’s stock valued at $6,933,000 after purchasing an additional 29,038 shares during the period. GFG Capital LLC lifted its stake in shares of Autodesk by 12.8% in the 2nd quarter. GFG Capital LLC now owns 10,619 shares of the software company’s stock valued at $2,065,000 after purchasing an additional 1,204 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Autodesk by 24.8% during the 2nd quarter. IFP Advisors Inc now owns 2,380 shares of the software company’s stock valued at $463,000 after purchasing an additional 473 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.