Autodesk (NASDAQ:ADSK) Announces Earnings Results

Autodesk (NASDAQ:ADSK) posted its quarterly earnings data on Tuesday. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05, Briefing.com reports. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company posted $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Autodesk updated its Q4 guidance to $2.10-2.16 EPS.

Autodesk Stock Down 0.4 %

Shares of ADSK traded down $1.43 during mid-day trading on Tuesday, reaching $317.96. The company’s stock had a trading volume of 2,403,834 shares, compared to its average volume of 1,582,789. The stock has a market cap of $68.36 billion, a PE ratio of 64.98, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50 day moving average is $287.47 and its 200 day moving average is $255.89. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Insider Activity

In other news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 in the last three months. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADSK. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and upped their price objective for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. KeyCorp increased their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Rosenblatt Securities increased their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus increased their price target on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $309.43.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.