Zacks Investment Research cut shares of Autodesk (NASDAQ:ADSK) from a hold rating to a sell rating in a research report released on Monday.

According to Zacks, “Autodesk’s elaborate restructuring plans depend on execution, which is anticipated to remain a drag on margins in the near term. Rising investments in cloud-based infrastructure and marketing initiatives will likely impact Autodesk’s business. This is a serious concern since the company is still not profitable. Besides, product concentration and a dependence on few distributors (like Tech Data) for the major portion of its revenues are headwinds. The company’s top-line will also continue to be impacted by the business model transition to “ratably” as against realized “upfront” earlier on. However, robust portfolio of offering, accretive acquisitions and strong cash position will fuel long term growth. Shares have outperformed the industry in the past year.”

Other equities analysts have also issued research reports about the stock. Canaccord Genuity reiterated a buy rating and set a $140.00 target price (up previously from $125.00) on shares of Autodesk in a research report on Thursday, November 16th. 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, November 15th. Royal Bank of Canada reiterated a buy rating on shares of Autodesk in a research report on Wednesday, November 15th. Guggenheim upgraded shares of Autodesk from a neutral rating to a buy rating and set a $150.00 target price for the company in a research report on Monday, November 13th. Finally, KeyCorp reiterated a buy rating and set a $128.00 target price on shares of Autodesk in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $132.68.

Shares of Autodesk (NASDAQ ADSK) opened at $115.57 on Monday. Autodesk has a 1-year low of $80.04 and a 1-year high of $131.10. 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 (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 28th. The software company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $515.30 million during the quarter, compared to the consensus estimate of $513.63 million. During the same quarter last year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts expect that Autodesk will post -1.37 earnings per share for the current fiscal year.

In other news, Director Lorrie M. Norrington sold 6,005 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $104.40, for a total value of $626,922.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Crawford W. Beveridge sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. The disclosure for this sale can be found here. Insiders sold 19,248 shares of company stock valued at $2,148,546 over the last 90 days. 6.10% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its position in Autodesk by 0.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,511 shares of the software company’s stock valued at $858,000 after purchasing an additional 42 shares during the last quarter. Prudential PLC lifted its position in Autodesk by 3.2% during the second quarter. Prudential PLC now owns 3,200 shares of the software company’s stock valued at $323,000 after purchasing an additional 100 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Autodesk by 1.9% during the second quarter. Thrivent Financial For Lutherans now owns 7,390 shares of the software company’s stock valued at $745,000 after purchasing an additional 140 shares during the last quarter. First Allied Advisory Services Inc. lifted its position in Autodesk by 3.8% during the second quarter. First Allied Advisory Services Inc. now owns 5,312 shares of the software company’s stock valued at $535,000 after purchasing an additional 193 shares during the last quarter. Finally, Smithfield Trust Co. lifted its position in Autodesk by 20.6% during the third quarter. Smithfield Trust Co. now owns 2,590 shares of the software company’s stock valued at $291,000 after purchasing an additional 443 shares during the last quarter. Institutional investors and hedge funds own 95.39% of the company’s stock.

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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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