Autodesk (NASDAQ:ADSK) Releases Earnings Results, Meets Estimates

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

Autodesk Price Performance

Autodesk 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 quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The firm’s 50-day simple moving average is $201.79 and its 200 day simple moving average is $198.87. The firm has a market capitalization of $42.54 billion, a PE ratio of 77.89, a P/E/G ratio of 1.83 and a beta of 1.49.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $206.87, for a total value of $7,109,294.42. Following the sale, the chief executive officer now directly owns 76,968 shares in the company, valued at approximately $15,922,370.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. lifted its holdings in Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after purchasing an additional 120 shares in the last quarter. Worth Asset Management LLC purchased a new position in Autodesk in the 1st quarter valued at about $36,000. Covestor Ltd lifted its holdings in Autodesk by 71.6% in the 1st quarter. Covestor Ltd now owns 508 shares of the software company’s stock valued at $109,000 after purchasing an additional 212 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Autodesk by 23.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company’s stock valued at $118,000 after purchasing an additional 104 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in Autodesk by 8.7% in the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after purchasing an additional 51 shares in the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America dropped their price objective on shares of Autodesk from $240.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of Autodesk from $270.00 to $220.00 in a research note on Wednesday. Credit Suisse Group dropped their price objective on shares of Autodesk from $355.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on shares of Autodesk from $277.00 to $256.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Finally, StockNews.com assumed coverage on shares of Autodesk in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.57.

Autodesk Company Profile

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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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