Autodesk’s (ADSK) Outperform Rating Reiterated at Macquarie

Macquarie restated their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a research note issued to investors on Friday,Benzinga reports. They currently have a $360.00 price objective on the software company’s stock.

ADSK has been the topic of a number of other research reports. BMO Capital Markets upped their target price on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Morgan Stanley upped their target price on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup dropped their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank began coverage on Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Stock Performance

Shares of Autodesk stock opened at $274.23 on Friday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a market capitalization of $58.96 billion, a PE ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day simple moving average of $296.63 and a two-hundred day simple moving average of $286.83.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Research analysts expect that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after purchasing an additional 119,034 shares during the last quarter. State Street Corp increased its stake in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. FMR LLC increased its stake in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after acquiring an additional 45,623 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after acquiring an additional 667,763 shares during the last quarter. 90.24% of the stock is 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.