Autodesk (NASDAQ:ADSK – Get a rating) released an update to its earnings guidance for the first quarter of 2023 on Thursday morning. Thomson Reuters earnings per share of $1,450. The company released a revenue forecast of $1.15 billion to $1.16 billion, compared to the consensus revenue estimate of $1.16 billion.
Shares of ADSK traded down $0.76 in Thursday’s midday session, hitting $206.58. The stock recorded a trading volume of 17,951 shares, compared to an average volume of 1,927,176 shares. Autodesk has a 1-year minimum of $186.29 and a 1-year maximum of $344.39. The company has a market capitalization of $44.89 billion, a PE ratio of 92.75 and a beta of 1.46. The company has a debt ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.81. The stock’s 50-day moving average is $225.12 and its 200-day moving average is $266.13.
Autodesk (NASDAQ:ADSK – Get a rating) last released its quarterly results on Thursday, February 24. The software company reported EPS of $0.98 for the quarter, beating the Zacks consensus estimate of $0.91 by $0.07. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company posted revenue of $1.21 billion for the quarter, versus $1.20 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.80. The company’s revenue for the quarter increased 16.6% year over year. As a group, equity research analysts expect Autodesk to post earnings per share of 4.28 for the current fiscal year.
ADSK has been the subject of several recent research reports. JPMorgan Chase & Co. lowered its price target on Autodesk shares from $355.00 to $275.00 and set an overweight rating on the stock in a Friday, Feb. 25 report. Zacks Investment Research cut Autodesk shares from a hold rating to a strong sell rating and set a target price of $216.00 for the stock. in a report on Monday, November 29. KeyCorp lowered its price target on Autodesk shares from $300.00 to $260.00 and set an overweight rating on the stock in a Friday, Feb. 25 report. Stifel Nicolaus lowered his price target on Autodesk shares from $310.00 to $285.00 and set a buy rating on the stock in a Friday, February 25 report. Finally, Barclays cut its price target on Autodesk shares from $289.00 to $275.00 in a Friday, February 25 research report. Two investment analysts have assigned a sell rating to the stock, two have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus buy rating and a consensus target price of $292.85.
In other news, CFO Deborah Clifford sold 3,953 shares of the company in a trade that took place on Wednesday, March 9. The shares were sold at an average price of $202.71, for a total transaction of $801,312.63. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, CAO Stephen W. Hope sold 197 shares of the company in a trade that took place on Tuesday, January 11. The stock was sold at an average price of $260.47, for a total transaction of $51,312.59. Disclosure of this sale can be found here. Insiders of the company hold 0.11% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their ADSK holdings. Thrivent Financial for Lutherans increased its stake in Autodesk by 306.0% in Q4. Thrivent Financial for Lutherans now owns 44,018 shares of the software company valued at $12,377,000 after acquiring 33,177 additional shares during the period. Glenmede Trust Co. NA increased its stake in Autodesk by 2.9% in the fourth quarter. Glenmede Trust Co. NA now owns 41,125 shares of the software company valued at $11,563,000 after acquiring 1,178 additional shares during the period. Toroso Investments LLC increased its stake in Autodesk by 35.3% during the 4th quarter. Toroso Investments LLC now owns 7,924 shares of the software company worth $2,228,000 after buying 2,067 additional shares in the last quarter. NewEdge Advisors LLC increased its stake in Autodesk by 104.4% in the 4th quarter. NewEdge Advisors LLC now owns 3,888 shares of the software company worth $1,093,000 after buying 1,986 additional shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in Autodesk by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 2,626 shares of the software company worth $738,000 after buying an additional 170 shares in the last quarter. 88.07% of the shares are currently held by institutional investors and hedge funds.
Autodesk Company Profile (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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