Morgan Stanley Reaffirms Overweight Rating for Autodesk (NASDAQ:ADSK)

Morgan Stanley restated their overweight rating on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Monday morning, Benzinga reports. They currently have a $320.00 price target on the software company’s stock.

ADSK has been the topic of several other research reports. Hsbc Global Res upgraded shares of Autodesk to a strong-buy rating in a research note on Tuesday, September 3rd. Citigroup raised their target price on shares of Autodesk from $316.00 to $325.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a hold rating in a report on Friday, August 30th. Rosenblatt Securities raised their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a buy rating in a report on Friday, August 30th. Finally, BMO Capital Markets raised their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a market perform rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk has an average rating of Moderate Buy and an average price target of $290.47.

Autodesk Price Performance

ADSK opened at $268.59 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a 50-day moving average of $254.61 and a 200-day moving average of $240.55. The company has a market capitalization of $57.88 billion, a P/E ratio of 58.14, a PEG ratio of 3.41 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $8,323,159.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,973 shares of company stock worth $10,106,590. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk in the first quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter worth $26,000. Finally, Olistico Wealth LLC bought a new stake in shares of Autodesk in the second quarter worth $26,000. 90.24% of the stock is owned by 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.