J P Morgan Chase & Co Reiterates Buy Rating for Autodesk (ADSK)
Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by J P Morgan Chase & Co in a note issued to investors on Wednesday. They currently have a $130.00 price target on the software company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 0.04% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Evercore ISI set a $135.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Canaccord Genuity restated a “buy” rating and issued a $125.00 target price (up previously from $120.00) on shares of Autodesk in a research report on Friday, August 25th. KeyCorp restated a “buy” rating and issued a $128.00 target price on shares of Autodesk in a research report on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating on shares of Autodesk in a research report on Wednesday, November 15th. Finally, Robert W. Baird set a $125.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $130.33.
Shares of Autodesk (ADSK) traded down $0.29 during trading hours on Wednesday, hitting $129.95. 4,953,800 shares of the company were exchanged, compared to its average volume of 2,002,414. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk has a twelve month low of $68.06 and a twelve month high of $131.10.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 28th. The software company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The business had revenue of $515.30 million during the quarter, compared to the consensus estimate of $513.63 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities analysts expect that Autodesk will post -1.38 earnings per share for the current fiscal year.
In other news, Director Lorrie M. Norrington sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $111.12, for a total value of $2,778,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Crawford W. Beveridge sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $112.82, for a total transaction of $169,230.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,523 shares of company stock valued at $7,218,659. Company insiders own 6.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in Autodesk by 4.2% during the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock valued at $121,000 after purchasing an additional 44 shares during the last quarter. Cable Hill Partners LLC lifted its stake in Autodesk by 276.7% during the third quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock valued at $145,000 after purchasing an additional 949 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in Autodesk during the second quarter valued at approximately $150,000. IFP Advisors Inc lifted its stake in Autodesk by 9.3% during the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock valued at $171,000 after purchasing an additional 145 shares during the last quarter. Finally, First Personal Financial Services lifted its stake in Autodesk by 896.0% during the second quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock valued at $202,000 after purchasing an additional 1,801 shares during the last quarter. 95.85% of the stock is owned by institutional investors.
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Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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