Autodesk’s (ADSK) Overweight Rating Reiterated at Morgan Stanley

Autodesk (NASDAQ:ADSK)‘s stock had its “overweight” rating reissued by Morgan Stanley in a research report issued on Monday, Benzinga reports. They currently have a $320.00 price target on the software company’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.64% from the stock’s previous close.

Several other research analysts also recently issued reports on ADSK. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. DA Davidson initiated coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. Berenberg Bank upped their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Rosenblatt Securities upped their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Autodesk Trading Down 2.9 %

NASDAQ:ADSK opened at $267.47 on Monday. Autodesk has a one year low of $192.01 and a one year high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50-day simple moving average is $253.46 and its 200 day simple moving average is $240.15. The firm has a market capitalization of $57.64 billion, a P/E ratio of 57.89, a PEG ratio of 3.41 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts forecast that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,973 shares of company stock valued at $10,106,590. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after acquiring an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after acquiring an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. FIL Ltd boosted its position in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after acquiring an additional 479,559 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after acquiring an additional 81,314 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.