Autodesk (NASDAQ:ADSK) Upgraded by Piper Sandler to “Overweight” Rating

Piper Sandler upgraded shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have $357.00 target price on the software company’s stock, up from their previous target price of $311.00.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus increased their target price on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Robert W. Baird increased their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. UBS Group assumed coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Barclays upped their price target on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.05.

Autodesk Price Performance

Autodesk stock opened at $284.96 on Wednesday. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $301.41 and its 200 day simple moving average is $273.85. The company has a market cap of $61.27 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 3.62 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data 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 business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Autodesk will post 5.76 EPS for the current year.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the period. FMR LLC lifted its holdings in Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $657,292,000 after buying an additional 61,785 shares during the period. Principal Financial Group Inc. lifted its holdings 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 worth $603,947,000 after buying an additional 245,816 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Autodesk by 4.0% in the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after buying an additional 81,314 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.