Autodesk (NASDAQ:ADSK) Given New $440.00 Price Target at Credit Suisse Group

Autodesk (NASDAQ:ADSK) had its target price lowered by Credit Suisse Group from $450.00 to $440.00 in a report published on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the software company’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lifted their price target on Autodesk from $324.00 to $344.00 and gave the company an equal weight rating in a research note on Wednesday. They noted that the move was a valuation call. Mizuho lifted their price target on Autodesk from $350.00 to $380.00 and gave the company a buy rating in a research note on Monday, November 15th. They noted that the move was a valuation call. Rosenblatt Securities cut their price target on Autodesk from $355.00 to $340.00 and set a buy rating for the company in a research note on Wednesday. Barclays lifted their price target on Autodesk from $340.00 to $370.00 and gave the company an overweight rating in a research note on Tuesday, August 24th. Finally, Royal Bank of Canada lifted their target price on shares of Autodesk from $340.00 to $363.00 and gave the stock an outperform rating in a research report on Monday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of Buy and an average price target of $337.00.

Shares of ADSK opened at $256.90 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a 50-day moving average of $301.09 and a 200-day moving average of $298.95. The company has a market cap of $56.48 billion, a PE ratio of 43.47, a P/E/G ratio of 3.23 and a beta of 1.36. Autodesk has a one year low of $245.05 and a one year high of $344.39.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Monday, November 22nd. The software company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. Analysts expect that Autodesk will post 2.86 EPS for the current fiscal year.

In related news, CFO Deborah Clifford sold 5,481 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total value of $1,588,448.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 262 shares of the company’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total transaction of $75,052.52. The disclosure for this sale can be found here. Insiders have sold a total of 8,263 shares of company stock valued at $2,384,406 over the last 90 days. Company insiders own 0.11% of the company’s stock.

Several large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in Autodesk in the 2nd quarter worth $27,000. Trustcore Financial Services LLC raised its stake in Autodesk by 109.7% in the third quarter. Trustcore Financial Services LLC now owns 130 shares of the software company’s stock worth $37,000 after buying an additional 68 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Autodesk by 35.6% in the third quarter. AdvisorNet Financial Inc now owns 137 shares of the software company’s stock worth $39,000 after buying an additional 36 shares in the last quarter. Newfound Research LLC bought a new position in Autodesk in the third quarter worth about $56,000. Finally, Monetary Management Group Inc. bought a new position in Autodesk in the second quarter worth about $58,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

About Autodesk

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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