Autodesk (NASDAQ:ADSK) Upgraded to Strong-Buy by Hsbc Global Res

Hsbc Global Res upgraded shares of Autodesk (NASDAQ:ADSK) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

A number of other equities analysts have also commented on the stock. Robert W. Baird decreased their price objective on shares of Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a research note on Wednesday, May 29th. Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the stock a neutral rating in a research report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a sell rating to a neutral rating and upped their price target for the company from $225.00 to $295.00 in a research report on Tuesday. Citigroup raised their price objective on Autodesk from $316.00 to $325.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Rosenblatt Securities lifted their target price on Autodesk from $290.00 to $295.00 and gave the company a buy rating in a research note on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Autodesk has a consensus rating of Moderate Buy and an average price target of $292.17.

Autodesk Stock Down 0.2 %

Shares of Autodesk stock opened at $257.83 on Tuesday. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The firm has a market capitalization of $55.56 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock’s fifty day moving average is $246.66 and its 200-day moving average is $239.07.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Autodesk will post 5.55 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock worth $14,220,661 in the last 90 days. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk in the 4th quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk in the first quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in Autodesk in the first quarter worth $25,000. LRI Investments LLC acquired a new stake in Autodesk during the first quarter worth $26,000. Finally, Olistico Wealth LLC bought a new stake in Autodesk in the 2nd quarter valued at $26,000. 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.