Autodesk, Inc. (ADSK) Receives Average Recommendation of “Buy” from Brokerages
Shares of Autodesk, Inc. (NASDAQ:ADSK) have been assigned a consensus recommendation of “Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $104.72.
A number of equities analysts recently commented on the company. Evercore ISI set a $115.00 price target on Autodesk and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank AG assumed coverage on Autodesk in a research note on Wednesday. They set a “buy” rating and a $130.00 price target for the company. Zacks Investment Research lowered Autodesk from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub raised Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Autodesk in a research note on Thursday, July 6th.
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Shares of Autodesk (NASDAQ ADSK) traded down 0.15% during trading on Friday, hitting $109.75. The company had a trading volume of 1,116,428 shares. The stock’s market capitalization is $24.19 billion. The firm’s 50 day moving average is $106.50 and its 200-day moving average is $92.72. Autodesk has a 52 week low of $56.80 and a 52 week high of $114.68.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The company had revenue of $485.70 million during the quarter, compared to analyst estimates of $470.27 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts anticipate that Autodesk will post ($0.57) EPS for the current fiscal year.
In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jan Becker sold 2,865 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $95.73, for a total value of $274,266.45. The disclosure for this sale can be found here. Insiders have sold a total of 170,570 shares of company stock worth $17,865,037 over the last 90 days. 6.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. British Columbia Investment Management Corp increased its position in Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock valued at $9,697,000 after buying an additional 11,871 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Autodesk during the first quarter valued at approximately $656,000. Teachers Advisors LLC increased its position in Autodesk by 131.2% in the fourth quarter. Teachers Advisors LLC now owns 621,633 shares of the software company’s stock valued at $46,007,000 after buying an additional 352,758 shares during the last quarter. Stifel Financial Corp increased its position in Autodesk by 7.4% in the first quarter. Stifel Financial Corp now owns 121,523 shares of the software company’s stock valued at $10,512,000 after buying an additional 8,402 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Autodesk by 931.6% in the first quarter. Bank of Nova Scotia now owns 44,700 shares of the software company’s stock valued at $3,865,000 after buying an additional 40,367 shares during the last quarter. Institutional investors own 97.39% 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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