UBS Group Begins Coverage on Autodesk (NASDAQ:ADSK)

UBS Group began coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $350.00 target price on the software company’s stock.

Other analysts also recently issued research reports about the company. Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Morgan Stanley raised their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $316.68.

Autodesk Price Performance

Shares of ADSK opened at $304.23 on Monday. The firm has a market cap of $65.41 billion, a price-to-earnings ratio of 60.36, a PEG ratio of 3.50 and a beta of 1.43. The stock has a 50 day moving average of $291.81 and a 200-day moving average of $259.55. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk has a 52 week low of $195.32 and a 52 week 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, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 EPS. As a group, analysts forecast that Autodesk will post 5.75 EPS for the current year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the company’s 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 of the company’s stock, 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 filing 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 on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock valued at $549,333 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADSK. State Street Corp grew its stake in Autodesk by 3.0% in 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 purchasing an additional 288,931 shares in the last quarter. FMR LLC grew its stake in Autodesk by 0.8% in the third 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 grew its stake in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Autodesk by 2.7% in 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. grew its stake in Autodesk by 12.6% in 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 purchasing an additional 245,816 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.