Autodesk (NASDAQ:ADSK) Now Covered by Scotiabank

Stock analysts at Scotiabank assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “sector outperform” rating and a $360.00 price target on the software company’s stock. Scotiabank’s target price would indicate a potential upside of 19.19% from the stock’s current price.

Other analysts have also recently issued research reports about the company. DA Davidson initiated coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Citigroup set a $325.00 target price on Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company assumed coverage on Autodesk in a report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, September 30th. Finally, Rosenblatt Securities lifted their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.19.

Autodesk Stock Up 1.0 %

Shares of NASDAQ ADSK traded up $2.90 during trading hours on Monday, hitting $302.05. The stock had a trading volume of 920,065 shares, compared to its average volume of 1,576,516. The firm’s 50-day moving average price is $281.32 and its two-hundred day moving average price is $251.79. Autodesk has a 52 week low of $195.32 and a 52 week high of $315.73. The company has a market capitalization of $64.94 billion, a P/E ratio of 61.77, a P/E/G ratio of 3.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

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

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 in the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in Autodesk during the first quarter worth about $25,000. LRI Investments LLC bought a new position in Autodesk during the 1st quarter worth approximately $26,000. Olistico Wealth LLC acquired a new position in Autodesk during the second quarter valued at approximately $26,000. Pacifica Partners Inc. increased its stake in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Autodesk in the third quarter worth $27,000. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

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.