Autodesk’s (ADSK) “Outperform” Rating Reiterated at Evercore ISI
Several other research firms have also issued reports on ADSK. Robert W. Baird set a $125.00 target price on Autodesk and gave the stock a buy rating in a report on Friday. ValuEngine upgraded Autodesk from a sell rating to a hold rating in a report on Friday, June 2nd. Sanford C. Bernstein assumed coverage on Autodesk in a report on Wednesday, May 24th. They set an outperform rating and a $137.00 target price on the stock. Berenberg Bank assumed coverage on Autodesk in a report on Wednesday, August 23rd. They set a buy rating and a $136.00 target price on the stock. Finally, BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $111.00.
Shares of Autodesk (ADSK) opened at 114.97 on Friday. Autodesk has a 12-month low of $65.06 and a 12-month high of $119.73. The stock’s market cap is $25.24 billion. The firm has a 50-day moving average price of $109.09 and a 200 day moving average price of $97.98.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. Autodesk had a negative return on equity of 51.29% and a negative net margin of 30.01%. The business had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. Autodesk’s revenue was down 8.9% on a year-over-year basis. Equities research analysts predict that Autodesk will post ($0.56) EPS for the current fiscal year.
In related news, Director Betsy Rafael sold 2,354 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $106.24, for a total transaction of $250,088.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl Bass sold 26,753 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $100.88, for a total value of $2,698,842.64. The disclosure for this sale can be found here. Insiders have sold 167,705 shares of company stock worth $17,590,771 in the last three months. 6.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake 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 in the last quarter. Harfst & Associates Inc. bought a new stake in shares of Autodesk during the second quarter worth about $150,000. IFP Advisors Inc increased its stake 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 in the last quarter. Kanawha Capital Management LLC bought a new stake in shares of Autodesk during the second quarter worth about $202,000. Finally, First Personal Financial Services increased its stake 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 in the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.
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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