Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Autodesk (NASDAQ:ADSK) had its price target upped by BMO Capital Markets from $287.00 to $308.00 in a research note published on Wednesday, MarketBeat reports. They currently have a market perform rating on the software company’s stock.

ADSK has been the subject of several other reports. KeyCorp raised their target price on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Piper Sandler increased their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. DA Davidson began coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. Bank of America raised their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Barclays raised their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Stock Performance

Shares of Autodesk stock opened at $291.90 on Wednesday. The company has a market cap of $62.76 billion, a P/E ratio of 57.92, a PEG ratio of 3.71 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $289.93 and a two-hundred day moving average price of $257.59. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $1.33 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts anticipate that Autodesk will post 5.74 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,936 shares of company stock valued at $549,333. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake 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 buying an additional 288,931 shares during the period. FMR LLC raised its holdings in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the period. Hedge funds and other 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.