Autodesk (NASDAQ:ADSK) Price Target Raised to $335.00

Autodesk (NASDAQ:ADSK) had its target price raised by Bank of America from $325.00 to $335.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the software company’s stock.

Several other equities analysts also recently weighed in on ADSK. Macquarie assumed coverage on Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. BMO Capital Markets raised their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. KeyCorp boosted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Price Performance

Autodesk stock opened at $307.70 on Tuesday. The company has a market cap of $66.16 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43. Autodesk has a one year low of $195.32 and a one year high of $326.62. The business has a fifty day moving average of $299.01 and a two-hundred day moving average of $280.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $1.33 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently modified their holdings of the company. Vestmark Advisory Solutions Inc. boosted its position in shares of Autodesk by 73.8% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,890 shares of the software company’s stock valued at $854,000 after purchasing an additional 1,227 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Autodesk during the fourth quarter worth approximately $116,828,000. Vision Financial Markets LLC acquired a new position in Autodesk in the fourth quarter worth approximately $140,000. Cullen Frost Bankers Inc. increased its holdings in shares of Autodesk by 3.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,081 shares of the software company’s stock valued at $320,000 after buying an additional 39 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at $202,000. 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.