Autodesk’s (ADSK) “Overweight” Rating Reiterated at KeyCorp

KeyCorp reissued their overweight rating on shares of Autodesk (NASDAQ:ADSK) in a report issued on Monday morning, Benzinga reports. KeyCorp currently has a $305.00 price objective on the software company’s stock.

Other analysts have also issued research reports about the company. BMO Capital Markets decreased their price target on Autodesk from $293.00 to $254.00 and set a market perform rating on the stock in a report on Wednesday, June 12th. Robert W. Baird dropped their price target on shares of Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a research note on Wednesday, May 29th. Rosenblatt Securities reissued a buy rating and issued a $290.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Piper Sandler restated a neutral rating and set a $239.00 target price on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Berenberg Bank downgraded Autodesk from a buy rating to a hold rating and set a $295.00 price target on the stock. in a report on Wednesday, May 1st. 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 presently has an average rating of Moderate Buy and a consensus price target of $268.17.

Autodesk Price Performance

ADSK stock opened at $254.62 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The company’s fifty day moving average price is $245.14 and its 200-day moving average price is $239.16. Autodesk has a one year low of $192.01 and a one year high of $279.53. The company has a market capitalization of $54.87 billion, a PE ratio of 55.11, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $1.55 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the sale, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at $7,418,010. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold 39,931 shares of company stock worth $9,537,781 in the last three months. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC grew its stake in Autodesk by 12.2% during the 4th quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after purchasing an additional 169 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Autodesk by 153.0% in the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after acquiring an additional 232,441 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Autodesk by 58.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after purchasing an additional 6,481 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Autodesk by 12.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock valued at $17,991,000 after buying an additional 8,456 shares during the period. Finally, Meyer Handelman Co. purchased a new stake in shares of Autodesk in the first quarter worth about $903,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.