Autodesk (NASDAQ:ADSK) Coverage Initiated at UBS Group

Equities researchers at UBS Group started coverage on shares of Autodesk (NASDAQ:ADSK) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $350.00 price target on the software company’s stock. UBS Group’s price objective would indicate a potential upside of 17.07% from the company’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Mizuho raised their target price on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.68.

Autodesk Trading Up 0.8 %

Autodesk stock opened at $298.96 on Monday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The stock has a market cap of $64.28 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The stock has a 50-day moving average of $291.08 and a two-hundred day moving average of $259.23.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Autodesk will post 5.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk 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 value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $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 available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were 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 in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after buying an additional 387,309 shares during the period. Synovus Financial Corp raised its holdings in shares of Autodesk by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock valued at $3,522,000 after buying an additional 421 shares during the period. Tidal Investments LLC raised its holdings in shares of Autodesk by 245.4% in the 3rd quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock valued at $21,214,000 after buying an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Autodesk in the 3rd quarter valued at $4,751,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Autodesk in the 3rd quarter valued at $3,923,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.