Autodesk (NASDAQ:ADSK) Posts Quarterly Earnings Results, Hits Expectations

Autodesk (NASDAQ:ADSKGet Rating) released its earnings results on Tuesday. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70, Yahoo Finance reports. Autodesk had a return on equity of 88.57% and a net margin of 11.76%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $0.68 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis.

Autodesk Price Performance

Shares of ADSK stock opened at $197.07 on Thursday. Autodesk has a 52-week low of $163.20 and a 52-week high of $285.38. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $42.54 billion, a P/E ratio of 77.89, a P/E/G ratio of 1.83 and a beta of 1.49. The stock has a 50 day moving average price of $201.79 and a 200 day moving average price of $198.87.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADSK. Robert W. Baird cut their target price on Autodesk from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Wednesday. Mizuho cut Autodesk from a “buy” rating to a “neutral” rating and cut their price target for the company from $260.00 to $210.00 in a report on Wednesday. Rosenblatt Securities cut their price target on Autodesk from $270.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research began coverage on Autodesk in a report on Tuesday, August 16th. They set an “outperform” rating and a $270.00 price target for the company. Finally, Oppenheimer cut their price target on Autodesk from $255.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.57.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the sale, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. Lazard Asset Management LLC raised its position in Autodesk by 64.4% during the 1st quarter. Lazard Asset Management LLC now owns 579,794 shares of the software company’s stock valued at $124,277,000 after purchasing an additional 227,098 shares in the last quarter. Macquarie Group Ltd. raised its position in Autodesk by 21.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,183,689 shares of the software company’s stock valued at $203,547,000 after purchasing an additional 205,595 shares in the last quarter. Invesco Ltd. raised its position in Autodesk by 18.9% during the 1st quarter. Invesco Ltd. now owns 1,005,551 shares of the software company’s stock valued at $215,538,000 after purchasing an additional 159,898 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Autodesk in the 1st quarter valued at $27,284,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Autodesk in the 1st quarter valued at $22,396,000. 86.44% of the stock is owned by institutional investors.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

See Also

Earnings History for Autodesk (NASDAQ:ADSK)

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