Autodesk, Inc. (NASDAQ:ADSK) Receives Consensus “Moderate Buy” Rating From Brokers

Shares of Autodesk, Inc. (NASDAQ: ADSK – Get a rating) have been assigned an average rating of “moderate buy” by the twenty-three rating agencies that cover the company, Marketbeat reports. One research analyst rated the stock with a sell recommendation, three assigned a hold recommendation and fourteen gave the company a buy recommendation. The 1-year average target price among analysts who have covered the stock over the past year is $263.74.

ADSK has been the subject of a number of research reports. KeyCorp cut its price target on Autodesk shares from $260.00 to $250.00 and set an “overweight” rating on the stock in a Friday, May 27 research note. Robert W. Baird raised his target price on Autodesk stock from $255.00 to $260.00 in a Friday, May 27 research report. Stifel Nicolaus lowered his price target on Autodesk shares from $285.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, May 23. Deutsche Bank Aktiengesellschaft downgraded Autodesk shares from a “buy” rating to a “hold” rating and lowered its target price for the stock from $275.00 to $225.00 in a research report from the Monday May 23. Finally, OTR Global upgraded Autodesk shares to a “positive” rating in a Thursday, May 5, research report.

Insider Activity at Autodesk

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Separately, CAO Stephen W. Hope sold 327 shares in a trade that took place on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now owns 4,186 shares of the company, valued at approximately $742,721.98. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. In other news, EVP Rebecca Pearce sold 1,608 shares of the company in a trade on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total transaction of $334,238.88. Following the completion of the transaction, the executive vice president now owns 19,325 shares of the company, valued at $4,016,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CAD Stephen W. Hope sold 327 shares of the company in a trade on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total transaction of $58,019.61. As a result of the transaction, the chief accounting officer now directly owns 4,186 shares of the company, valued at approximately $742,721.98. Disclosure of this sale can be found here. 0.11% of the shares are held by insiders.

Hedge funds weigh on Autodesk

Several large investors have recently changed their stake in the company. Norges Bank acquired a new equity stake in Autodesk during the fourth quarter worth $1,504,904,000. Polen Capital Management LLC increased its position in Autodesk shares by 18.7% during the first quarter. Polen Capital Management LLC now owns 8,650,112 shares of the software company worth $1,854,152,000 after purchasing an additional 1,365,221 shares during the period. Brown Advisory Inc. increased its position in Autodesk shares by 18.3% during the fourth quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company worth $1,641,953,000 after purchasing an additional 902,168 shares during the period. Castleview Partners LLC acquired a new stake in shares of Autodesk during the fourth quarter at a value of $3,181,000. Finally, Ninety One UK Ltd increased its position in Autodesk shares by 29.0% during the first quarter. Ninety One UK Ltd now owns 3,393,123 shares in the software company worth $727,316,000 after buying an additional 762,242 shares during the period. Institutional investors hold 89.55% of the company’s shares.

Autodesk stock up 6.3%

ADSK shares opened at $196.38 on Thursday. Autodesk has a 52-week low of $163.20 and a 52-week high of $344.39. The company has a market capitalization of $42.67 billion, a P/E ratio of 89.26 and a beta of 1.46. The company’s 50-day simple moving average is $185.61 and its 200-day simple moving average is $208.04. The company has a debt ratio of 3.35, a quick ratio of 0.62 and a current ratio of 0.62.

Autodesk (NASDAQ:ADSK – Get a rating) last announced its quarterly results on Thursday, May 26. The software company reported EPS of $0.87 for the quarter, beating consensus analyst estimates of $0.77 by $0.10. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company posted revenue of $1.17 billion for the quarter, compared to analysts’ estimates of $1.15 billion. In the same quarter of the previous year, the company achieved EPS of $1.03. Autodesk’s quarterly revenue increased 18.3% year over year. On average, analysts expect Autodesk to post earnings per share of 4.01 for the current year.

About Autodesk

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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, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.

Further reading

Analyst Recommendations for Autodesk (NASDAQ: ADSK)

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