Autodesk (NASDAQ:ADSK) Announces Earnings Results

Autodesk (NASDAQ:ADSKGet Rating) issued its quarterly earnings results on Tuesday. The software company reported $1.70 EPS for the quarter, hitting analysts’ consensus estimates of $1.70, Yahoo Finance reports. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis.

Autodesk Trading Down 5.7 %

Shares of NASDAQ ADSK traded down $11.83 during midday trading on Thursday, hitting $197.07. The company’s stock had a trading volume of 6,274,813 shares, compared to its average volume of 1,730,194. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. The business’s 50 day moving average is $201.56 and its two-hundred day moving average is $198.86. Autodesk has a 12-month low of $163.20 and a 12-month high of $285.38. The firm has a market cap of $42.54 billion, a P/E ratio of 69.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.49.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADSK. Moffett Nathanson cut their target price on Autodesk to $177.00 in a research report on Thursday. Citigroup cut their target price on Autodesk from $277.00 to $256.00 and set a “buy” rating for the company in a research report on Friday, November 18th. Stifel Nicolaus cut their target price on Autodesk from $270.00 to $220.00 in a research report on Wednesday. Bank of America cut their target price on Autodesk from $240.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities dropped their price target on Autodesk from $270.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $240.19.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 34,366 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the sale, the chief executive officer now directly owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. First Manhattan Co. increased its holdings in Autodesk by 342.9% during the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the period. Worth Asset Management LLC purchased a new position in shares of Autodesk in the 1st quarter valued at $36,000. Covestor Ltd increased its holdings in shares of Autodesk by 71.6% in the 1st quarter. Covestor Ltd now owns 508 shares of the software company’s stock valued at $109,000 after acquiring an additional 212 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Autodesk by 23.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company’s stock valued at $118,000 after acquiring an additional 104 shares during the period. Finally, Zions Bancorporation N.A. increased its holdings in shares of Autodesk by 8.7% in the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after acquiring an additional 51 shares during the period. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

About Autodesk

(Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

Featured Articles

Earnings History for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.