Autodesk’s (ADSK) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a report published on Tuesday, Benzinga reports. They currently have a $260.00 price target on the software company’s stock.

Several other research analysts have also recently commented on the stock. Oppenheimer lowered their price target on shares of Autodesk from $315.00 to $275.00 and set an outperform rating for the company in a report on Thursday, May 23rd. Stifel Nicolaus reduced their price objective on shares of Autodesk from $316.00 to $290.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Piper Sandler restated a neutral rating and set a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Rosenblatt Securities restated a buy rating and set a $290.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Finally, BMO Capital Markets reduced their price objective on shares of Autodesk from $293.00 to $254.00 and set a market perform rating for the company in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Autodesk has an average rating of Hold and an average target price of $262.42.

Autodesk Trading Up 1.5 %

NASDAQ ADSK opened at $244.12 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53. The stock has a market capitalization of $52.73 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 3.02 and a beta of 1.43. The firm has a 50 day moving average of $218.55 and a two-hundred day moving average of $238.07.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Autodesk will post 5.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Deborah Clifford sold 5,553 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the transaction, the chief financial officer now directly owns 32,259 shares in the company, valued at $8,387,662.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,501 shares of company stock worth $11,714,162. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC grew its stake in shares of Autodesk by 21.5% during the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock worth $58,000 after purchasing an additional 42 shares during the period. Bouvel Investment Partners LLC grew its stake in shares of Autodesk by 0.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC grew its stake in Autodesk by 3.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after acquiring an additional 45 shares during the last quarter. Goodman Advisory Group LLC grew its stake in Autodesk by 0.4% in the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock valued at $2,770,000 after acquiring an additional 49 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC grew its stake in Autodesk by 3.7% in the 4th quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock valued at $331,000 after acquiring an additional 49 shares during 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.