Autodesk (ADSK) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report released on Wednesday.
Several other research firms have also recently commented on ADSK. UBS Group reaffirmed a buy rating and set a $140.00 price objective on shares of Autodesk in a research report on Wednesday, November 29th. Wedbush cut Autodesk from an outperform rating to a neutral rating and dropped their price objective for the company from $138.00 to $126.00 in a research report on Wednesday, November 29th. Credit Suisse Group reaffirmed an outperform rating and set a $135.00 price objective (down from $140.00) on shares of Autodesk in a research report on Wednesday, November 29th. Deutsche Bank set a $140.00 price objective on Autodesk and gave the company a buy rating in a research report on Wednesday, November 29th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $135.00 price objective on shares of Autodesk in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $132.77.
Autodesk (ADSK) traded down $1.23 during trading on Wednesday, hitting $110.84. The company had a trading volume of 2,371,432 shares, compared to its average volume of 3,110,000. The company has a debt-to-equity ratio of 14.78, a current ratio of 1.07 and a quick ratio of 1.07. Autodesk has a 12 month low of $76.89 and a 12 month high of $131.10. The stock has a market capitalization of $24,410.00, a PE ratio of -43.13 and a beta of 1.91.
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 consensus estimate of ($0.13) by $0.01. Autodesk had a negative return on equity of 93.60% and a negative net margin of 28.46%. The company had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $513.63 million. During the same period last year, the firm posted ($0.18) earnings per share. Autodesk’s revenue was up 5.2% compared to the same quarter last year. research analysts anticipate that Autodesk will post -1.37 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total value of $2,447,125.00. The disclosure for this sale can be found here. Insiders sold 38,825 shares of company stock worth $4,595,671 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ADSK. Marshall Wace North America L.P. bought a new position in shares of Autodesk in the second quarter worth about $747,000. Cipher Capital LP bought a new stake in Autodesk during the 2nd quarter valued at approximately $446,000. Oppenheimer & Co. Inc. raised its stake in Autodesk by 3.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,249 shares of the software company’s stock valued at $327,000 after purchasing an additional 94 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Autodesk by 1.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,371 shares of the software company’s stock valued at $2,054,000 after purchasing an additional 298 shares during the period. Finally, Sawtooth Solutions LLC bought a new stake in Autodesk during the 2nd quarter valued at approximately $226,000. 95.34% of the stock is currently owned by hedge funds and other institutional investors.
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Autodesk Company Profile
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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