Autodesk (NASDAQ:ADSK) Shares Earnings Pace Gap

Autodesk, Inc. (NASDAQ: ADSK – Get a rating) widened ahead of Thursday’s trading after a better-than-expected earnings announcement. The stock had previously closed at $214.43, but opened at $233.97. Autodesk shares last traded at $222.90, with volume of 35,432 shares changing hands.

The software company reported earnings per share of $1.65 for the quarter, beating the consensus estimate of $1.57 by $0.08. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company posted revenue of $1.24 billion in the quarter, versus $1.22 billion expected by analysts. During the same period last year, the company earned earnings per share of $0.67. The company’s revenue increased 16.7% year over year.

Changes to analyst ratings

ADSK has been the subject of several research reports. Stifel Nicolaus raised his price target on Autodesk shares from $230.00 to $270.00 in a Friday, August 19 report. Oppenheimer raised his price target on Autodesk shares from $230.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised its price target on Autodesk shares from $225.00 to $255.00 in a research note on Thursday. OTR Global upgraded Autodesk shares to a “positive” rating in a Thursday, May 5, research note. Finally, Wolfe Research began covering Autodesk shares in a research note on Tuesday, August 16. They issued an “outperform” rating and a price target of $270.00 on the stock. One analyst rated the stock with a sell rating, four gave the company a hold rating and seventeen gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $267.57.

Insider Activity at Autodesk

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In other Autodesk news, 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 transaction of $58,019.61. Following the completion of the sale, the chief accounting officer now owns 4,186 shares of the company, valued at approximately $742,721.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In other Autodesk news, EVP Rebecca Pearce sold 1,608 shares in a trade that took place 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 sale, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CAD 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 transaction of $58,019.61. As a result of the sale, the accounting chief 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 of the company.

Autodesk Institutional Commerce

Several large investors have recently changed their stock holdings. Summit Global Investments increased its position in Autodesk shares by 4.4% during the second quarter. Summit Global Investments now owns 9,804 shares of the software company worth $1,686,000 after buying 415 additional shares during the period. Captrust Financial Advisors increased its position in Autodesk by 45.9% in Q2. Captrust Financial Advisors now owns 10,804 shares of the software company valued at $1,858,000 after buying 3,398 additional shares during the period. SRS Capital Advisors Inc. increased its position in Autodesk by 346.9% in Q2. SRS Capital Advisors Inc. now owns 219 shares of the software company valued at $38,000 after buying an additional 170 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Autodesk in Q2 worth $4,064,000. Finally, Walleye Capital LLC increased its position in Autodesk by 751.7% in the second quarter. Walleye Capital LLC now owns 9,880 shares of the software company valued at $1,699,000 after purchasing an additional 8,720 shares during the period. Institutional investors and hedge funds hold 89.55% of the company’s shares.

Autodesk trades up 4.4%

The company’s 50-day moving average is $196.83 and its 200-day moving average is $201.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 3.35. The company has a market capitalization of $48.64 billion, a price/earnings ratio of 101.93, a P/E/G ratio of 2.58 and a beta of 1.53.

About Autodesk

(Get a 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, 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.

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