KeyCorp Increases Autodesk (NASDAQ:ADSK) Price Target to $335.00

Autodesk (NASDAQ:ADSK) had its price target increased by KeyCorp from $330.00 to $335.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. KeyCorp’s target price suggests a potential upside of 22.05% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley upped their target price on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and upped their target price for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Macquarie reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a report on Friday. Citigroup cut their price target on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday. Finally, Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $332.82.

Autodesk Stock Down 2.8 %

Shares of NASDAQ ADSK traded down $7.88 during trading hours on Friday, hitting $274.47. The stock had a trading volume of 931,684 shares, compared to its average volume of 1,421,599. The company has a market capitalization of $59.01 billion, a P/E ratio of 54.37, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day moving average price is $297.11 and its two-hundred day moving average price is $286.59. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. Analysts anticipate that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Trading of Autodesk

Several large investors have recently bought and sold shares of ADSK. Vanguard Group Inc. boosted its stake in shares of Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after purchasing an additional 119,034 shares in the last quarter. State Street Corp increased its holdings in shares of Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares in the last quarter. FMR LLC increased its holdings in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock valued at $902,597,000 after acquiring an additional 667,763 shares in the last quarter. 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.