Autodesk, Inc. (NASDAQ:ADSK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Autodesk, Inc. (NASDAQ:ADSK) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $326.05.

ADSK has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Citigroup lifted their price objective on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Macquarie started coverage on shares of Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price for the company. Morgan Stanley lifted their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Oppenheimer increased their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

Autodesk Trading Down 3.8 %

Autodesk stock opened at $284.96 on Monday. The stock has a market cap of $61.27 billion, a P/E ratio of 56.54, a PEG ratio of 3.62 and a beta of 1.42. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm’s fifty day moving average price is $301.41 and its 200-day moving average price is $273.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. Equities research analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jag Capital Management LLC bought a new position in Autodesk in the 3rd quarter worth $13,861,000. LMR Partners LLP purchased a new stake in Autodesk in the third quarter worth about $12,643,000. Starboard Value LP bought a new stake in Autodesk during the 3rd quarter valued at approximately $510,189,000. Erste Asset Management GmbH purchased a new position in shares of Autodesk during the 3rd quarter worth approximately $20,087,000. Finally, Bank of Montreal Can raised its position in shares of Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after acquiring an additional 73,363 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.