Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00 at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its price objective increased by Stifel Nicolaus from $320.00 to $340.00 in a report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

Other research analysts also recently issued reports about the company. KeyCorp reaffirmed an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Wells Fargo & Company began coverage on Autodesk in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target on the stock. Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Citigroup set a $325.00 price objective on Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Oppenheimer boosted their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.19.

Autodesk Stock Up 1.0 %

Shares of ADSK stock opened at $302.05 on Friday. The stock’s 50 day simple moving average is $282.25 and its 200 day simple moving average is $252.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a twelve month low of $195.32 and a twelve month high of $315.73. The company has a market capitalization of $64.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, research analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jag Capital Management LLC acquired a new position in shares of Autodesk during the third quarter worth about $13,861,000. Cetera Investment Advisers lifted its position in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after buying an additional 49,500 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Company Profile

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.