BMO Capital Markets Boosts Autodesk (NASDAQ:ADSK) Price Target to $287.00

Autodesk (NASDAQ:ADSK) had its target price boosted by BMO Capital Markets from $254.00 to $287.00 in a research report released on Friday, MarketBeat.com reports. BMO Capital Markets currently has a market perform rating on the software company’s stock.

A number of other analysts also recently weighed in on the company. Royal Bank of Canada restated an outperform rating and issued a $260.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. Rosenblatt Securities reiterated a buy rating and issued a $290.00 price target on shares of Autodesk in a report on Wednesday, June 12th. Morgan Stanley upped their target price on shares of Autodesk from $305.00 to $320.00 and gave the stock an overweight rating in a research report on Friday. Stifel Nicolaus dropped their target price on shares of Autodesk from $316.00 to $290.00 and set a buy rating for the company in a report on Thursday, May 23rd. Finally, KeyCorp reissued an overweight rating and set a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $283.33.

Autodesk Stock Up 0.1 %

Shares of Autodesk stock opened at $258.40 on Friday. The company has a market cap of $55.69 billion, a P/E ratio of 55.93, a PEG ratio of 3.45 and a beta of 1.48. The firm has a fifty day moving average of $245.97 and a two-hundred day moving average of $239.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk has a one year low of $192.01 and a one year high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Autodesk will post 5.55 earnings per share for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,931 shares of company stock valued at $9,537,781. 0.14% of the stock is owned by insiders.

Institutional Trading of Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares during the last quarter. Norges Bank acquired a new position in shares of Autodesk during the 4th quarter valued at about $619,404,000. Ninety One UK Ltd increased its stake in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares during the last quarter. Hedge funds and other 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.