Autodesk (NASDAQ:ADSK) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a strong-buy rating in a report published on Thursday.

A number of other research analysts have also recently commented on the stock. Rosenblatt Securities upped their price target on shares of Autodesk from $265.00 to $290.00 and gave the stock a buy rating in a report on Friday, March 1st. KeyCorp upped their price target on shares of Autodesk from $275.00 to $320.00 and gave the stock an overweight rating in a report on Friday, March 1st. Mizuho upped their price target on shares of Autodesk from $220.00 to $270.00 and gave the stock a neutral rating in a report on Friday, March 1st. Piper Sandler upped their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a report on Friday, March 1st. Finally, Citigroup upped their price target on shares of Autodesk from $276.00 to $307.00 and gave the stock a buy rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $272.44.

Autodesk Price Performance

Autodesk stock opened at $210.63 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk has a 52-week low of $188.38 and a 52-week high of $279.53. The company has a market cap of $45.05 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 3.14 and a beta of 1.43. The firm’s fifty day moving average is $252.86 and its 200 day moving average is $234.92.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 2,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the completion of the transaction, the director now directly owns 39,316 shares of the company’s stock, valued at $9,829,000. The disclosure for this sale can be found here. Insiders sold 38,666 shares of company stock valued at $10,090,055 in the last three months. 0.14% of the stock is owned by insiders.

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Garner Asset Management Corp acquired a new stake in Autodesk during the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the 4th quarter valued at approximately $25,000. Bfsg LLC acquired a new stake in Autodesk during the 4th quarter valued at approximately $27,000. Rakuten Securities Inc. purchased a new position in shares of Autodesk during the 4th quarter valued at approximately $28,000. Finally, Harbour Investments Inc. increased its holdings in shares of Autodesk by 76.9% during the 4th quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. 90.24% of the stock is currently 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.