Autodesk (NASDAQ:ADSK) Price Target Raised to $308.00 at BMO Capital Markets

Autodesk (NASDAQ:ADSK) had its target price lifted by BMO Capital Markets from $287.00 to $308.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a market perform rating on the software company’s stock.

Several other equities research analysts have also recently weighed in on ADSK. Citigroup upped their price target on shares of Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price for the company. DA Davidson began coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price for the company. Mizuho set a $260.00 target price on shares of Autodesk in a research report on Friday, October 18th. Finally, HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and increased their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.38.

Autodesk Price Performance

Shares of ADSK opened at $290.64 on Wednesday. The company has a 50 day moving average price of $289.02 and a 200-day moving average price of $256.83. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a market capitalization of $62.49 billion, a PE ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jag Capital Management LLC purchased a new position in Autodesk during the third quarter valued at $13,861,000. Cetera Investment Advisers lifted its holdings in Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares in the last quarter. Forsta AP Fonden lifted its holdings in Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares in the last quarter. Bank of Montreal Can lifted its holdings in Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Autodesk during the third quarter valued at $12,643,000. Institutional investors and hedge funds 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.