Autodesk (NASDAQ:ADSK) Downgraded to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Autodesk (NASDAQ:ADSK) from an outperform rating to a market perform rating in a report published on Monday, BenzingaRatingsTable reports. The firm currently has $197.00 price objective on the software company’s stock, up from their prior price objective of $189.00.

Several other research firms have also recently weighed in on ADSK. Barclays upped their price objective on shares of Autodesk from $173.00 to $195.00 and gave the stock an overweight rating in a research report on Wednesday, November 27th. Canaccord Genuity upped their price objective on shares of Autodesk from $160.00 to $195.00 and gave the stock a buy rating in a research report on Wednesday, November 27th. Zacks Investment Research cut shares of Autodesk from a hold rating to a sell rating and set a $189.00 price objective for the company. in a research report on Thursday, November 28th. Credit Suisse Group reissued an outperform rating and issued a $185.00 target price (up previously from $175.00) on shares of Autodesk in a report on Wednesday, November 27th. Finally, Mizuho increased their target price on shares of Autodesk from $190.00 to $195.00 and gave the stock an outperform rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $185.50.

ADSK traded down $0.31 on Monday, hitting $192.14. 11,215 shares of the stock were exchanged, compared to its average volume of 962,302. Autodesk has a 12 month low of $129.70 and a 12 month high of $193.42. The business has a 50-day moving average of $182.61 and a two-hundred day moving average of $161.22. The firm has a market capitalization of $42.33 billion, a price-to-earnings ratio of 1,745.55, a PEG ratio of 3.45 and a beta of 1.89.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Autodesk had a net margin of 4.74% and a negative return on equity of 113.06%. The business had revenue of $842.70 million during the quarter, compared to analysts’ expectations of $823.95 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Autodesk’s revenue was up 27.5% compared to the same quarter last year. On average, equities analysts expect that Autodesk will post 1.47 earnings per share for the current year.

In related news, SVP Carmel Galvin sold 4,994 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $185.00, for a total value of $923,890.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC raised its holdings in Autodesk by 235.5% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 208 shares of the software company’s stock valued at $31,000 after buying an additional 146 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Autodesk by 45.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 233 shares of the software company’s stock valued at $34,000 after purchasing an additional 73 shares during the period. Candriam Luxembourg S.C.A. increased its position in Autodesk by 16.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 246,534 shares of the software company’s stock valued at $36,000 after purchasing an additional 34,953 shares during the period. Marquette Asset Management LLC increased its position in Autodesk by 454.5% during the 3rd quarter. Marquette Asset Management LLC now owns 244 shares of the software company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Finally, Bridger Capital Management LLC acquired a new stake in Autodesk during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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