UBS Group Initiates Coverage on Autodesk (NASDAQ:ADSK)

UBS Group started coverage on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $350.00 price objective on the software company’s stock.

ADSK has been the topic of several other research reports. Mizuho upped their price target on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada increased their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Morgan Stanley boosted their price objective on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Stifel Nicolaus increased their price objective on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company boosted their target price on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $316.68.

Autodesk Price Performance

Shares of Autodesk stock opened at $296.65 on Monday. The stock has a market capitalization of $63.78 billion, a price-to-earnings ratio of 58.86, a P/E/G ratio of 3.73 and a beta of 1.47. The firm’s 50-day moving average price is $289.93 and its two-hundred day moving average price is $258.15. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 period last year, the firm posted $1.33 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that Autodesk will post 5.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in Autodesk in the 2nd quarter valued at $26,000. Pacifica Partners Inc. grew its holdings in shares of Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the third quarter valued at about $27,000. Concord Wealth Partners bought a new stake in Autodesk during the third quarter worth about $28,000. Finally, Transcendent Capital Group LLC acquired a new position in Autodesk during the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.