Autodesk (NASDAQ:ADSK) Upgraded by Hsbc Global Res to Strong-Buy

Hsbc Global Res upgraded shares of Autodesk (NASDAQ:ADSK) to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports.

Several other analysts also recently commented on ADSK. HSBC upgraded shares of Autodesk from a hold rating to a buy rating and raised their price objective for the company from $242.00 to $299.00 in a research report on Tuesday. The Goldman Sachs Group raised shares of Autodesk from a sell rating to a neutral rating and raised their target price for the company from $225.00 to $295.00 in a research note on Tuesday. KeyCorp reaffirmed an overweight rating and set a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Citigroup raised their target price on shares of Autodesk from $316.00 to $325.00 and gave the company a buy rating in a research note on Tuesday. Finally, Robert W. Baird cut their target price on shares of Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a research note on Wednesday, May 29th. Seven 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. According to MarketBeat, Autodesk has a consensus rating of Moderate Buy and an average price target of $292.17.

Autodesk Stock Down 0.6 %

ADSK opened at $250.37 on Tuesday. The company has a market capitalization of $53.96 billion, a PE ratio of 54.19, a PEG ratio of 3.45 and a beta of 1.48. Autodesk has a 1-year low of $192.01 and a 1-year high of $279.53. The firm’s 50 day simple moving average is $247.13 and its two-hundred day simple moving average is $239.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. As a group, equities analysts forecast that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,275 shares of company stock worth $14,220,661. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $26,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Autodesk during the 2nd quarter worth approximately $26,000. 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.