Autodesk (NASDAQ:ADSK) had its price objective boosted by equities researchers at UBS Group to $76.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “underweight” rating on the software company’s stock. UBS Group’s target price suggests a potential downside of 38.24% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Autodesk from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Griffin Securities lifted their price objective on Autodesk from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, August 24th. ValuEngine cut Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Robert W. Baird lifted their price objective on Autodesk from $155.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Finally, Canaccord Genuity lifted their price objective on Autodesk from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $160.37.

Shares of Autodesk stock opened at $123.05 on Wednesday. Autodesk has a one year low of $101.55 and a one year high of $159.94. The company has a market cap of $27.49 billion, a P/E ratio of -76.91, a P/E/G ratio of 105.79 and a beta of 1.97.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 20th. The software company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $641.07 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, analysts forecast that Autodesk will post 0.05 EPS for the current year.

In related news, Director Lorrie M. Norrington sold 5,001 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total transaction of $783,906.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $149.77, for a total value of $149,770.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,009 shares of company stock valued at $4,431,583 over the last three months. 0.14% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Autodesk by 2.1% during the 3rd quarter. BlackRock Inc. now owns 17,172,820 shares of the software company’s stock worth $2,680,848,000 after purchasing an additional 356,914 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Autodesk by 1.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 11,036,081 shares of the software company’s stock valued at $1,722,843,000 after purchasing an additional 173,531 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Autodesk by 3.0% in the 3rd quarter. Capital Research Global Investors now owns 6,673,349 shares of the software company’s stock valued at $1,041,777,000 after purchasing an additional 195,972 shares during the last quarter. Capital World Investors lifted its holdings in shares of Autodesk by 214.7% in the 3rd quarter. Capital World Investors now owns 5,079,079 shares of the software company’s stock valued at $792,895,000 after purchasing an additional 3,465,109 shares during the last quarter. Finally, Jackson Square Partners LLC lifted its holdings in shares of Autodesk by 3.7% in the 3rd quarter. Jackson Square Partners LLC now owns 3,156,075 shares of the software company’s stock valued at $492,694,000 after purchasing an additional 111,716 shares during the last quarter. 95.88% of the stock is owned by hedge funds and other institutional investors.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

See Also: Intrinsic Value

The Fly

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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