Autodesk (NASDAQ:ADSK) Coverage Initiated at Macquarie

Macquarie started coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $380.00 price target on the software company’s stock.

A number of other research firms have also recently commented on ADSK. DA Davidson initiated coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. KeyCorp upped their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.05.

Autodesk Stock Down 1.8 %

Shares of NASDAQ:ADSK opened at $303.77 on Thursday. The firm has a market capitalization of $65.31 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.43. The business has a 50 day simple moving average of $296.76 and a two-hundred day simple moving average of $263.94. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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

Insider Buying and Selling

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock worth $549,333 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

Several large investors have recently bought and sold shares of the stock. Marshall Financial Group LLC lifted its stake in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares during the period. Avitas Wealth Management LLC lifted its position in Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after acquiring an additional 42 shares during the period. Mesirow Financial Investment Management Inc. lifted its position in Autodesk by 1.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares during the period. Meeder Asset Management Inc. grew its stake in Autodesk by 28.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares during the period. Hedge funds and other 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.