Stifel Nicolaus Reaffirms Buy Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a note issued to investors on Friday, Benzinga reports. They presently have a $245.00 target price on the software company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.24% from the company’s previous close.

A number of other research firms have also recently commented on ADSK. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Autodesk in a research note on Friday, September 15th. Rosenblatt Securities restated a “buy” rating and set a $253.00 price objective on shares of Autodesk in a research note on Thursday, October 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Autodesk from $225.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, August 24th. Barclays raised their price target on shares of Autodesk from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Finally, BMO Capital Markets upped their price objective on Autodesk from $224.00 to $232.00 and gave the company a “market perform” rating in a research report on Thursday, August 24th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.11.

Autodesk Trading Up 0.6 %

Shares of ADSK traded up $1.34 during mid-day trading on Friday, reaching $216.36. The company’s stock had a trading volume of 600,267 shares, compared to its average volume of 1,364,681. Autodesk has a 52 week low of $179.61 and a 52 week high of $232.15. The stock has a market cap of $46.25 billion, a PE ratio of 53.55, a P/E/G ratio of 2.92 and a beta of 1.46. The company’s fifty day moving average price is $207.51 and its two-hundred day moving average price is $206.69. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.89.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Wednesday, August 23rd. The software company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.18. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. On average, analysts predict that Autodesk will post 4.68 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Rebecca Pearce sold 115 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $220.00, for a total value of $25,300.00. Following the completion of the sale, the executive vice president now directly owns 22,857 shares in the company, valued at $5,028,540. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mary T. Mcdowell sold 4,656 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $222.04, for a total value of $1,033,818.24. Following the completion of the sale, the director now owns 42,916 shares of the company’s stock, valued at $9,529,068.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca Pearce sold 115 shares of Autodesk stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $220.00, for a total value of $25,300.00. Following the completion of the transaction, the executive vice president now owns 22,857 shares in the company, valued at $5,028,540. The disclosure for this sale can be found here. Insiders have sold 29,917 shares of company stock worth $6,599,720 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC lifted its holdings in Autodesk by 7.5% during the 1st quarter. Guggenheim Capital LLC now owns 44,668 shares of the software company’s stock worth $9,298,000 after buying an additional 3,105 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Autodesk by 3.4% during the 1st quarter. Two Sigma Advisers LP now owns 1,067,600 shares of the software company’s stock worth $222,232,000 after purchasing an additional 35,100 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Autodesk by 24.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,498 shares of the software company’s stock valued at $1,561,000 after buying an additional 1,462 shares during the last quarter. RMB Capital Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $221,000. Finally, Carson Advisory Inc. bought a new stake in Autodesk during the 2nd quarter worth about $226,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.