Autodesk (NASDAQ:ADSK) Given New $330.00 Price Target at Robert W. Baird

Autodesk (NASDAQ:ADSK) had its price objective lifted by investment analysts at Robert W. Baird from $305.00 to $330.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective points to a potential upside of 10.31% from the company’s previous close.

Several other research firms also recently issued reports on ADSK. Rosenblatt Securities boosted their price target on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Oppenheimer upped their price target on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.25.

Autodesk Price Performance

Shares of ADSK opened at $299.15 on Monday. The company’s 50-day moving average is $281.32 and its 200-day moving average is $251.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $64.32 billion, a PE ratio of 61.18, a PEG ratio of 3.82 and a beta of 1.47. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $1.12 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 over the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its stake in shares of Autodesk by 9.4% during the first quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after purchasing an additional 122 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Autodesk by 2.9% during the 1st quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after acquiring an additional 161 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Autodesk by 57.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,646 shares of the software company’s stock worth $4,335,000 after acquiring an additional 6,044 shares during the last quarter. Bessemer Group Inc. increased its position in Autodesk by 29.3% in the 1st quarter. Bessemer Group Inc. now owns 15,377 shares of the software company’s stock valued at $4,004,000 after acquiring an additional 3,485 shares during the period. Finally, Lake Street Advisors Group LLC raised its stake in shares of Autodesk by 60.3% during the first quarter. Lake Street Advisors Group LLC now owns 2,145 shares of the software company’s stock valued at $559,000 after acquiring an additional 807 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.