Autodesk (NASDAQ:ADSK) Price Target Raised to $360.00

Autodesk (NASDAQ:ADSK) had its price target lifted by investment analysts at Stifel Nicolaus from $340.00 to $360.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 19.42% from the company’s current price.

Several other research analysts also recently weighed in on ADSK. KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Bank of America increased their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Scotiabank began coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price for the company. Macquarie began coverage on Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 target price for the company. Finally, The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.95.

Autodesk Price Performance

ADSK stock traded down $1.37 during midday trading on Wednesday, hitting $301.45. The company’s stock had a trading volume of 234,489 shares, compared to its average volume of 1,580,737. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $64.81 billion, a price-to-earnings ratio of 59.81, a price-to-earnings-growth ratio of 3.62 and a beta of 1.43. The company has a 50 day moving average of $298.07 and a two-hundred day moving average of $265.79.

Autodesk (NASDAQ:ADSK) last posted 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 return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts expect that Autodesk will post 5.76 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,386 shares of company stock worth $403,308 over the last quarter. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the period. FMR LLC increased its stake in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after buying an additional 61,785 shares during the period. Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after buying an additional 81,314 shares during the period. Hedge funds and other institutional investors 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.