Autodesk (NASDAQ:ADSK) Issues Earnings Results, Hits Estimates

Autodesk (NASDAQ:ADSKGet Rating) posted its quarterly earnings data on Tuesday. The software company reported $1.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.70, Yahoo Finance reports. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Autodesk had a return on equity of 88.57% and a net margin of 11.76%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS.

Autodesk Price Performance

Autodesk stock traded up $2.40 during midday trading on Tuesday, reaching $208.90. The company had a trading volume of 2,308,466 shares, compared to its average volume of 1,691,244. The company has a market capitalization of $45.09 billion, a P/E ratio of 82.57, a P/E/G ratio of 1.87 and a beta of 1.49. Autodesk has a 12-month low of $163.20 and a 12-month high of $310.70. The firm’s fifty day simple moving average is $201.79 and its 200-day simple moving average is $198.87. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.64 and a quick ratio of 0.64.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on Autodesk to $255.00 in a report on Thursday, November 17th. JPMorgan Chase & Co. initiated coverage on Autodesk in a report on Friday, September 16th. They issued a “neutral” rating and a $203.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and issued a $270.00 target price on shares of Autodesk in a report on Thursday, November 17th. Wolfe Research initiated coverage on Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 target price for the company. Finally, Barclays lifted their price objective on Autodesk from $263.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.19.

Insiders Place Their Bets

In other news, CEO Andrew Anagnost sold 34,366 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the sale, the chief executive officer now owns 76,968 shares in the company, valued at approximately $15,922,370.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently modified their holdings of the business. First Manhattan Co. boosted its position in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after purchasing an additional 120 shares during the period. Worth Asset Management LLC acquired a new stake in Autodesk during the 1st quarter worth approximately $36,000. Covestor Ltd lifted its position in Autodesk by 71.6% during the 1st quarter. Covestor Ltd now owns 508 shares of the software company’s stock worth $109,000 after acquiring an additional 212 shares during the period. Parkside Financial Bank & Trust lifted its position in Autodesk by 23.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company’s stock worth $118,000 after acquiring an additional 104 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in Autodesk by 8.7% during the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock worth $136,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 86.44% of the company’s stock.

Autodesk Company Profile

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Earnings History for Autodesk (NASDAQ:ADSK)

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