Autodesk Inc. (ADSK) Releases Q4 Earnings Guidance
Autodesk Inc. (NASDAQ:ADSK) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.39)-(0.32) for the period, compared to the Thomson Reuters consensus estimate of ($0.31). The company issued revenue guidance of $460-480 million, compared to the consensus revenue estimate of $488.50 million.
Shares of Autodesk Inc. (NASDAQ:ADSK) traded up 0.11% during mid-day trading on Tuesday, reaching $75.26. The company had a trading volume of 2,818,183 shares. Autodesk Inc. has a 52-week low of $41.60 and a 52-week high of $78.58. The stock’s market capitalization is $16.70 billion. The company’s 50-day moving average is $72.33 and its 200 day moving average is $64.22.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 29th. The software company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The firm earned $489.60 million during the quarter, compared to analyst estimates of $476.76 million. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue was down 18.4% on a year-over-year basis. Analysts anticipate that Autodesk Inc. will post ($0.60) EPS for the current fiscal year.
A number of equities analysts recently commented on ADSK shares. Evercore ISI started coverage on shares of Autodesk in a research note on Wednesday, September 14th. They issued a buy rating and a $80.00 price objective for the company. Zacks Investment Research raised shares of Autodesk from a hold rating to a buy rating and set a $80.00 target price for the company in a research note on Tuesday, October 4th. Canaccord Genuity lifted their target price on shares of Autodesk from $60.00 to $65.00 and gave the company a hold rating in a research note on Friday, August 26th. Citigroup Inc. set a $65.00 target price on shares of Autodesk and gave the company a hold rating in a research note on Sunday, August 28th. Finally, Wedbush assumed coverage on shares of Autodesk in a research note on Friday, September 9th. They set a neutral rating and a $60.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Autodesk currently has a consensus rating of Hold and an average target price of $68.42.
In other news, SVP Jan Becker sold 17,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $71.48, for a total transaction of $1,241,107.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $68.91, for a total transaction of $103,365.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
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Several institutional investors have recently made changes to their positions in ADSK. Bessemer Group Inc. raised its position in shares of Autodesk by 1,177.2% in the second quarter. Bessemer Group Inc. now owns 2,350 shares of the software company’s stock worth $127,000 after buying an additional 2,166 shares during the last quarter. Boston Private Wealth LLC bought a new position in shares of Autodesk during the third quarter worth about $205,000. Bank of Nova Scotia raised its position in shares of Autodesk by 5.9% in the second quarter. Bank of Nova Scotia now owns 4,483 shares of the software company’s stock worth $243,000 after buying an additional 250 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Autodesk during the second quarter worth about $265,000. Finally, Dai Ichi Life Holdings Inc. bought a new position in shares of Autodesk during the third quarter worth about $310,000. Institutional investors own 96.18% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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