Autodesk (NASDAQ:ADSK) Upgraded at Guggenheim

Guggenheim upgraded shares of Autodesk (NASDAQ:ADSK) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

ADSK has been the topic of a number of other reports. Zacks Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. KeyCorp lowered their target price on shares of Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Morgan Stanley dropped their price target on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Jefferies Financial Group upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Piper Sandler reduced their price objective on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $323.40.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $209.75 on Wednesday. Autodesk has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The stock has a market cap of $44.26 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.26 and a beta of 1.32. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day simple moving average is $214.93 and its 200 day simple moving average is $235.32.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. As a group, research analysts anticipate that Autodesk will post 9.64 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $231.17 per share, with a total value of $794,068.95. Following the acquisition, the director owned 26,517 shares of the company’s stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 7,935 shares of company stock worth $1,666,644 in the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADSK. Brighton Jones LLC lifted its holdings in Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after purchasing an additional 147 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Autodesk by 98.1% in the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after purchasing an additional 1,224 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Autodesk in the second quarter valued at approximately $466,000. Baird Financial Group Inc. raised its position in shares of Autodesk by 7.5% in the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock valued at $3,111,000 after purchasing an additional 701 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Autodesk by 25.3% during the 2nd quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company’s stock valued at $4,291,000 after buying an additional 2,795 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.