Autodesk’s (ADSK) “Outperform” Rating Reiterated at Macquarie

Autodesk (NASDAQ:ADSK)‘s stock had its “outperform” rating reissued by equities researchers at Macquarie in a research note issued on Friday,Benzinga reports. They currently have a $360.00 price target on the software company’s stock. Macquarie’s price objective would indicate a potential upside of 32.24% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Oppenheimer boosted their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Stifel Nicolaus raised their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley upped their price objective on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $332.59.

Autodesk Stock Down 3.6 %

Shares of ADSK stock traded down $10.12 on Friday, reaching $272.23. 785,864 shares of the company were exchanged, compared to its average volume of 1,406,959. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average of $297.11 and a 200-day moving average of $286.59. The company has a market cap of $58.53 billion, a price-to-earnings ratio of 54.04, a PEG ratio of 2.94 and a beta of 1.43. Autodesk has a one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts anticipate that Autodesk will post 5.76 earnings per share for the current year.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. Jag Capital Management LLC purchased a new stake in shares of Autodesk during the third quarter valued at approximately $13,861,000. LMR Partners LLP bought a new stake in shares of Autodesk during the 3rd quarter valued at $12,643,000. Starboard Value LP purchased a new stake in Autodesk in the third quarter worth about $510,189,000. China Universal Asset Management Co. Ltd. boosted its holdings in Autodesk by 196.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after acquiring an additional 26,768 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

About Autodesk

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.