Autodesk (NASDAQ:ADSK) Upgraded to “Overweight” at Piper Sandler

Autodesk (NASDAQ:ADSK) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $357.00 price target on the software company’s stock, up from their previous price target of $311.00. Piper Sandler’s price target points to a potential upside of 20.46% from the stock’s current price.

Several other equities research analysts have also weighed in on ADSK. BMO Capital Markets lifted their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Citigroup boosted their target price on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Macquarie assumed coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target for the company. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Finally, Robert W. Baird upped their price objective on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.05.

Autodesk Stock Up 1.9 %

Shares of NASDAQ ADSK opened at $296.37 on Wednesday. The firm’s fifty day moving average is $301.44 and its 200 day moving average is $273.53. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $63.72 billion, a price-to-earnings ratio of 58.80, a PEG ratio of 3.62 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $1.33 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Autodesk will post 5.76 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on 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 directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors have recently made changes to their positions in the company. First Hawaiian Bank increased its position in shares of Autodesk by 1.6% during the fourth quarter. First Hawaiian Bank now owns 13,261 shares of the software company’s stock valued at $3,920,000 after acquiring an additional 205 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Autodesk in the 4th quarter valued at approximately $211,000. Range Financial Group LLC purchased a new stake in Autodesk in the fourth quarter valued at approximately $276,000. One Wealth Capital Management LLC acquired a new position in Autodesk during the fourth quarter worth $264,000. Finally, Canandaigua National Bank & Trust Co. boosted its position in shares of Autodesk by 4.1% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 4,534 shares of the software company’s stock worth $1,340,000 after buying an additional 178 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.