Autodesk (NASDAQ:ADSK) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research note released on Monday,Benzinga reports. The firm issued a sector outperform rating and a $360.00 price objective on the software company’s stock.

Other analysts have also issued reports about the company. DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective on the stock. Stifel Nicolaus raised their price objective on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp reiterated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a report on Monday, August 26th. Wells Fargo & Company initiated coverage on Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price objective for the company. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $301.19.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $302.05 on Monday. 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 stock’s fifty day moving average price is $282.25 and its two-hundred day moving average price is $252.44. Autodesk has a one year low of $195.32 and a one year high of $315.73. The firm has a market cap of $64.94 billion, a price-to-earnings ratio of 61.77, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. On average, equities analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

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

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter worth about $25,000. LRI Investments LLC bought a new position in Autodesk during the 1st quarter valued at approximately $26,000. Olistico Wealth LLC bought a new position in Autodesk during the 2nd quarter valued at approximately $26,000. Pacifica Partners Inc. raised its position in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory bought a new position in Autodesk during the 3rd quarter valued at approximately $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.