Autodesk (NASDAQ:ADSK) Upgraded to “Buy” at StockNews.com

Autodesk (NASDAQ:ADSKGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research firms have also issued reports on ADSK. Royal Bank of Canada decreased their target price on Autodesk from $343.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. decreased their target price on Autodesk from $355.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. OTR Global raised Autodesk to a “positive” rating in a research note on Thursday, May 5th. Rosenblatt Securities reduced their price target on Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Finally, Piper Sandler reduced their price target on Autodesk from $340.00 to $298.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $292.85.

Shares of NASDAQ:ADSK opened at $192.58 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.68. The business has a fifty day moving average of $200.76 and a two-hundred day moving average of $241.45. The stock has a market cap of $41.94 billion, a P/E ratio of 86.36 and a beta of 1.44. Autodesk has a 52-week low of $175.41 and a 52-week high of $344.39.

Autodesk (NASDAQ:ADSKGet Rating) last posted its earnings results on Thursday, February 24th. The software company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.07. Autodesk had a return on equity of 55.95% and a net margin of 11.33%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Autodesk’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that Autodesk will post 4.25 earnings per share for the current year.

In related news, CFO Deborah Clifford sold 1,820 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $386,386.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 1,626 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $212.30, for a total value of $345,199.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,458 shares of company stock worth $1,545,628 in the last 90 days. 0.11% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Curi Wealth Management LLC purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $25,000. Gradient Investments LLC grew its stake in shares of Autodesk by 68.4% in the 4th quarter. Gradient Investments LLC now owns 96 shares of the software company’s stock valued at $27,000 after purchasing an additional 39 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $28,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of Autodesk by 1,136.4% in the 1st quarter. Hanson & Doremus Investment Management now owns 136 shares of the software company’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 89.55% of the company’s stock.

About Autodesk (Get Rating)

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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