Autodesk (NASDAQ:ADSK) Coverage Initiated by Analysts at DA Davidson

DA Davidson assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Friday, MarketBeat reports. The firm issued a neutral rating and a $260.00 target price on the software company’s stock.

A number of other research analysts have also commented on the company. HSBC raised Autodesk from a hold rating to a buy rating and increased their price objective for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Citigroup increased their price target on Autodesk from $316.00 to $325.00 and gave the company a buy rating in a report on Tuesday, September 3rd. Mizuho boosted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the stock a neutral rating in a research note on Friday, August 30th. BMO Capital Markets raised their target price on shares of Autodesk from $254.00 to $287.00 and gave the company a market perform rating in a research note on Friday, August 30th. Finally, KeyCorp reissued an overweight rating and set a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of Moderate Buy and an average price target of $290.47.

Autodesk Price Performance

NASDAQ ADSK opened at $271.90 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $58.60 billion, a PE ratio of 58.85, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The company has a 50 day moving average price of $251.85 and a two-hundred day moving average price of $240.13.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 EPS. As a group, equities analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of Autodesk 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 transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,687 shares of company stock worth $10,027,986. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in Autodesk by 58.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after buying an additional 6,481 shares during the last quarter. Meyer Handelman Co. bought a new stake in Autodesk during the 1st quarter worth approximately $903,000. TD Asset Management Inc increased its holdings in Autodesk by 13.0% during the 1st quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock valued at $113,128,000 after purchasing an additional 50,027 shares in the last quarter. Caxton Associates LP raised its position in Autodesk by 1,353.8% in the 4th quarter. Caxton Associates LP now owns 97,026 shares of the software company’s stock valued at $23,624,000 after purchasing an additional 90,352 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in Autodesk by 155.7% in the fourth quarter. Bank of Nova Scotia now owns 79,803 shares of the software company’s stock worth $19,428,000 after purchasing an additional 48,597 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.