Autodesk (NASDAQ:ADSK) Price Target Lowered to $255.00 at Royal Bank of Canada

Autodesk (NASDAQ:ADSKGet Rating) had its price objective trimmed by Royal Bank of Canada from $295.00 to $255.00 in a research note issued to investors on Monday morning, The Fly reports.

Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Autodesk from a hold rating to a buy rating in a research note on Tuesday, May 17th. Mizuho dropped their price target on shares of Autodesk from $285.00 to $250.00 and set a buy rating on the stock in a research note on Wednesday, May 18th. JPMorgan Chase & Co. dropped their price target on shares of Autodesk from $355.00 to $275.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Citigroup dropped their price target on shares of Autodesk from $286.00 to $264.00 and set a buy rating on the stock in a research note on Friday. Finally, OTR Global upgraded shares of Autodesk to a positive rating in a research note on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $268.75.

Shares of NASDAQ:ADSK opened at $183.51 on Monday. The company has a 50-day simple moving average of $200.24 and a 200-day simple moving average of $237.02. Autodesk has a one year low of $173.90 and a one year high of $344.39. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $39.96 billion, a price-to-earnings ratio of 82.29 and a beta of 1.44.

Autodesk (NASDAQ:ADSKGet Rating) last announced its earnings results on Thursday, February 24th. The software company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts forecast that Autodesk will post 4.25 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. New World Advisors LLC purchased a new position in Autodesk during the third quarter worth approximately $329,000. Magnetar Financial LLC purchased a new position in Autodesk during the third quarter worth approximately $244,000. Bank of Nova Scotia raised its stake in Autodesk by 9.4% during the third quarter. Bank of Nova Scotia now owns 36,123 shares of the software company’s stock worth $10,301,000 after purchasing an additional 3,101 shares during the period. Vident Investment Advisory LLC raised its stake in Autodesk by 10.1% during the third quarter. Vident Investment Advisory LLC now owns 76,779 shares of the software company’s stock worth $21,895,000 after purchasing an additional 7,023 shares during the period. Finally, Geode Capital Management LLC raised its stake in Autodesk by 2.3% during the third quarter. Geode Capital Management LLC now owns 3,467,089 shares of the software company’s stock worth $985,713,000 after purchasing an additional 76,706 shares during the period. 89.55% of the stock is currently owned by institutional investors and hedge funds.

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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