Autodesk, Inc. (ADSK) Upgraded at BidaskClub
BidaskClub upgraded shares of Autodesk, Inc. (NASDAQ:ADSK) from a buy rating to a strong-buy rating in a research note published on Thursday morning.
ADSK has been the topic of several other research reports. Royal Bank Of Canada reaffirmed an outperform rating on shares of Autodesk in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Autodesk from a hold rating to a sell rating in a report on Tuesday, July 18th. William Blair reaffirmed an outperform rating on shares of Autodesk in a report on Sunday, May 21st. Morgan Stanley raised shares of Autodesk from an equal weight rating to an overweight rating and increased their target price for the company from $69.00 to $115.00 in a report on Monday, May 1st. Finally, TheStreet lowered shares of Autodesk from a c- rating to a d rating in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Autodesk has a consensus rating of Buy and an average price target of $111.00.
Autodesk (NASDAQ ADSK) opened at 114.97 on Thursday. The firm has a 50-day moving average price of $109.09 and a 200-day moving average price of $97.98. Autodesk has a 12 month low of $65.06 and a 12 month high of $119.73. The company’s market capitalization is $25.24 billion.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 51.29%. The company had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. During the same quarter last year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Autodesk will post ($0.56) earnings per share for the current fiscal year.
In related news, SVP Steven M. Blum sold 6,638 shares of Autodesk stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $112.71, for a total transaction of $748,168.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl Bass sold 26,753 shares of Autodesk stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $100.88, for a total transaction of $2,698,842.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,705 shares of company stock valued at $17,590,771. 6.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ADSK. Parallel Advisors LLC boosted its position in shares of Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after buying an additional 44 shares during the period. Harfst & Associates Inc. acquired a new position in shares of Autodesk during the second quarter worth about $150,000. IFP Advisors Inc boosted its position in shares of Autodesk by 9.3% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares during the period. Kanawha Capital Management LLC acquired a new position in shares of Autodesk during the second quarter worth about $202,000. Finally, First Personal Financial Services boosted its position in shares of Autodesk by 896.0% in the second quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares during the period. 97.73% of the stock is owned by institutional investors.
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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