Autodesk (NASDAQ:ADSK – Get 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
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.
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.
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