KeyCorp Reaffirms “Overweight” Rating for Autodesk, Inc. (ADSK)
KeyCorp reiterated their overweight rating on shares of Autodesk, Inc. (NASDAQ:ADSK) in a research report report published on Thursday. They currently have a $136.00 price objective on the software company’s stock, up from their previous price objective of $127.00.
A number of other equities analysts have also commented on the stock. Canaccord Genuity restated a buy rating and issued a $140.00 price target (up from $125.00) on shares of Autodesk in a research report on Thursday. Evercore ISI set a $135.00 price target on shares of Autodesk and gave the company a buy rating in a research report on Wednesday. Royal Bank Of Canada restated a buy rating on shares of Autodesk in a research report on Wednesday. Guggenheim upgraded shares of Autodesk from a neutral rating to a buy rating and set a $150.00 price target on the stock in a research report on Monday, November 13th. Finally, Robert W. Baird set a $125.00 price target on shares of Autodesk and gave the company a buy rating in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Autodesk currently has an average rating of Buy and an average target price of $124.50.
Autodesk (NASDAQ:ADSK) traded up $0.49 during trading hours on Thursday, reaching $127.49. 1,458,953 shares of the company’s stock were exchanged, compared to its average volume of 1,332,413. Autodesk has a 52-week low of $68.06 and a 52-week high of $127.92. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. The firm had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. research analysts predict that Autodesk will post -1.38 earnings per share for the current fiscal year.
In other Autodesk news, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $112.73, for a total value of $2,705,970.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 580 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders sold 79,789 shares of company stock valued at $9,189,363 in the last ninety days. Insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Autodesk by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares in the last quarter. BlackRock Inc. increased its position in shares of Autodesk by 4.8% during the second quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock worth $1,612,787,000 after acquiring an additional 735,647 shares in the last quarter. American Century Companies Inc. increased its position in shares of Autodesk by 13.6% during the third quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock worth $341,660,000 after acquiring an additional 364,994 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Autodesk by 18.5% during the second quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock worth $281,589,000 after acquiring an additional 436,261 shares in the last quarter. Finally, Fred Alger Management Inc. increased its position in shares of Autodesk by 52.3% during the second quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock worth $243,405,000 after acquiring an additional 829,021 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.
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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