Autodesk (ADSK) Upgraded by BidaskClub to Strong-Buy
BidaskClub upgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.
ADSK has been the topic of several other reports. Evercore ISI set a $135.00 target price on shares of Autodesk and gave the company a buy rating in a report on Wednesday, November 15th. Morgan Stanley lifted their price target on shares of Autodesk from $120.00 to $143.00 and gave the company an overweight rating in a report on Wednesday, November 22nd. Robert W. Baird set a $125.00 price target on shares of Autodesk and gave the company a buy rating in a report on Sunday, October 1st. JPMorgan Chase & Co. reaffirmed a buy rating and set a $130.00 price target on shares of Autodesk in a report on Wednesday, November 29th. Finally, KeyCorp reaffirmed an overweight rating and set a $136.00 price target (up from $127.00) on shares of Autodesk in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $132.68.
Autodesk (NASDAQ:ADSK) traded up $2.74 during mid-day trading on Tuesday, reaching $115.29. 2,802,292 shares of the company’s stock traded hands, compared to its average volume of 2,241,700. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.78. Autodesk has a 52-week low of $79.15 and a 52-week high of $131.10. The company has a market cap of $25,390.00, a price-to-earnings ratio of -44.86 and a beta of 1.91.
Autodesk (NASDAQ:ADSK) last released its earnings results 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 net margin of 28.46% and a negative return on equity of 93.60%. The firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $513.63 million. During the same period last year, the firm earned ($0.18) EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts forecast that Autodesk will post -1.37 EPS for the current fiscal year.
In other news, SVP Fronzo Pascal W. Di sold 19,577 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $125.00, for a total value of $2,447,125.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lorrie M. Norrington sold 6,005 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $104.40, for a total transaction of $626,922.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,825 shares of company stock worth $4,595,671 over the last three months. Insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ADSK. Meritage Group LP lifted its position in shares of Autodesk by 3,910.0% in the 3rd quarter. Meritage Group LP now owns 2,243,728 shares of the software company’s stock worth $251,881,000 after purchasing an additional 2,187,774 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Autodesk in the 2nd quarter worth approximately $140,338,000. Fred Alger Management Inc. lifted its position in shares of Autodesk by 52.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock worth $243,405,000 after purchasing an additional 829,021 shares during the period. Findlay Park Partners LLP acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $55,721,000. Finally, Vanguard Group Inc. lifted its position in shares of Autodesk by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock worth $2,058,545,000 after purchasing an additional 466,724 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.
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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