Autodesk (NASDAQ:ADSK) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Autodesk (NASDAQ:ADSK) released its quarterly earnings results on Tuesday. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05, Briefing.com reports. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS.

Autodesk Stock Down 0.4 %

Shares of ADSK opened at $317.96 on Wednesday. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 65.02, a PEG ratio of 4.10 and a beta of 1.47. The stock’s 50-day moving average price is $288.49 and its 200-day moving average price is $256.59.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADSK. Piper Sandler boosted their price target on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Robert W. Baird upped their target price on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Berenberg Bank upped their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Finally, Barclays upped their target price on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 company. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $309.43.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, 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 have sold 19,280 shares of company stock worth $5,232,213 over the last quarter. 0.14% of the stock is currently owned by insiders.

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.