Shares of Autodesk, Inc. (NASDAQ:ADSK) have been given an average recommendation of “Buy” by the twenty-five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $169.47.
A number of research firms have commented on ADSK. Wedbush lifted their price objective on shares of Autodesk from $131.00 to $163.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Argus upgraded shares of Autodesk from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Friday, November 23rd. TheStreet upgraded shares of Autodesk from a “d” rating to a “c” rating in a research note on Thursday, February 28th. Deutsche Bank lifted their price objective on shares of Autodesk to $180.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. Finally, BidaskClub upgraded shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th.
In related news, insider Andrew Anagnost sold 10,440 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $153.21, for a total transaction of $1,599,512.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $152.90, for a total transaction of $152,900.00. The disclosure for this sale can be found here. Insiders have sold 26,929 shares of company stock worth $4,274,847 in the last three months. Insiders own 0.14% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Autodesk in the third quarter worth $273,000. Gamco Investors INC. ET AL increased its position in shares of Autodesk by 43.3% in the third quarter. Gamco Investors INC. ET AL now owns 10,780 shares of the software company’s stock worth $1,683,000 after acquiring an additional 3,255 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Autodesk by 69.7% in the third quarter. Dupont Capital Management Corp now owns 8,684 shares of the software company’s stock worth $1,356,000 after acquiring an additional 3,568 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Autodesk by 25.6% in the third quarter. Commonwealth Equity Services LLC now owns 8,234 shares of the software company’s stock worth $1,285,000 after acquiring an additional 1,680 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of Autodesk in the third quarter worth $1,894,000. 94.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Autodesk stock traded up $4.51 during trading on Thursday, hitting $158.82. 1,575,171 shares of the stock were exchanged, compared to its average volume of 1,832,465. The stock has a market cap of $33.97 billion, a P/E ratio of 1,443.82, a price-to-earnings-growth ratio of 2.28 and a beta of 1.94. Autodesk has a 12-month low of $117.72 and a 12-month high of $169.05.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 28th. The software company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts expect that Autodesk will post 1.76 earnings per share for the current year.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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