Autodesk (NASDAQ:ADSK) Stock Rating Upgraded by StockNews.com

Autodesk (NASDAQ:ADSK) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other analysts also recently commented on the company. Oppenheimer raised their target price on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Rosenblatt Securities lifted their price target on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. BMO Capital Markets lifted their price target on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Finally, Barclays lifted their price target on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Up 2.8 %

Shares of NASDAQ:ADSK opened at $216.50 on Thursday. The firm has a market cap of $46.31 billion, a P/E ratio of 51.43, a P/E/G ratio of 2.95 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk has a 12-month low of $188.38 and a 12-month high of $279.53. The business has a fifty day simple moving average of $251.86 and a 200 day simple moving average of $234.97.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $1.26 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts predict that Autodesk will post 5.38 earnings per share for the current year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the sale, the director now owns 38,766 shares in the company, valued at $10,262,910.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,666 shares of company stock valued at $10,090,055. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. bought a new position in Autodesk in the fourth quarter valued at $25,000. Garner Asset Management Corp bought a new position in Autodesk in the fourth quarter valued at $26,000. Bfsg LLC bought a new position in Autodesk in the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new position in Autodesk in the fourth quarter valued at $28,000. Finally, Harbour Investments Inc. increased its stake in Autodesk by 76.9% in the fourth quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock valued at $28,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.