UBS Reiterates Buy Rating for Autodesk (ADSK)
Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by research analysts at UBS in a report issued on Wednesday. They presently have a $140.00 target price on the software company’s stock. UBS’s price objective would indicate a potential upside of 27.62% from the company’s previous close.
A number of other analysts have also recently commented on ADSK. OTR Global cut shares of Autodesk to a “positive” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $138.00 target price (up previously from $137.00) on shares of Autodesk in a report on Friday, August 11th. Robert W. Baird increased their target price on Autodesk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. Finally, Barclays increased their target price on Autodesk from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $130.10.
Autodesk (ADSK) traded up $0.36 on Wednesday, hitting $109.70. 8,480,900 shares of the company were exchanged, compared to its average volume of 2,106,248. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.22 and a quick ratio of 1.22. Autodesk has a 1-year low of $68.06 and a 1-year high of $131.10.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative net margin of 28.46% and a negative return on equity of 75.04%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $513.63 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. sell-side analysts forecast that Autodesk will post -1.38 earnings per share for the current fiscal year.
In other news, CFO Richard Scott Herren sold 5,738 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $128.14, for a total value of $735,267.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Fronzo Pascal W. Di sold 580 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.91, for a total value of $64,327.80. The disclosure for this sale can be found here. Insiders sold a total of 61,523 shares of company stock valued at $7,218,659 in the last 90 days. 6.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Autodesk by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares during the last quarter. BlackRock Inc. lifted its stake in Autodesk by 4.8% in the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after purchasing an additional 735,647 shares during the last quarter. American Century Companies Inc. lifted its stake in Autodesk by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock valued at $341,660,000 after purchasing an additional 364,994 shares during the last quarter. Franklin Resources Inc. lifted its stake in Autodesk by 18.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock valued at $281,589,000 after purchasing an additional 436,261 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its position in Autodesk by 52.3% during the second quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock worth $243,405,000 after acquiring an additional 829,021 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.
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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