Autodesk (NASDAQ:ADSK) Now Covered by Macquarie

Macquarie began coverage on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $380.00 target price on the software company’s stock.

A number of other brokerages have also issued reports on ADSK. KeyCorp increased their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Citigroup raised their target price on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Morgan Stanley lifted their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Scotiabank assumed coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $323.05.

Autodesk Stock Performance

Shares of ADSK stock opened at $309.34 on Thursday. The stock has a market capitalization of $66.51 billion, a PE ratio of 61.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $295.30 and its 200 day moving average price is $262.63. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk will post 5.76 EPS for the current year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares of the company’s stock, 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. In the last three months, insiders have sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Autodesk

A number of hedge funds have recently modified their holdings of the stock. Jag Capital Management LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at approximately $13,861,000. LMR Partners LLP acquired a new position in Autodesk in the 3rd quarter valued at about $12,643,000. Starboard Value LP acquired a new stake in shares of Autodesk during the 3rd quarter worth about $510,189,000. Erste Asset Management GmbH purchased a new stake in Autodesk in the third quarter valued at approximately $20,087,000. Finally, Bank of Montreal Can boosted its position in Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.