Stifel Nicolaus Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price boosted by Stifel Nicolaus from $340.00 to $360.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the software company’s stock.

Several other equities research analysts have also issued reports on ADSK. UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Wells Fargo & Company upped their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler raised their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. Finally, KeyCorp lifted their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $323.95.

Autodesk Trading Down 3.3 %

Shares of NASDAQ ADSK opened at $292.83 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a one year low of $195.32 and a one year high of $326.62. The business has a 50-day moving average price of $298.39 and a two-hundred day moving average price of $265.98. The firm has a market capitalization of $62.96 billion, a PE ratio of 58.10, a PEG ratio of 3.62 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted 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 net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $1.33 earnings per share. Autodesk’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 Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,386 shares of company stock valued at $403,308 over the last quarter. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently added to or reduced their stakes in ADSK. Franklin Resources Inc. raised its stake in shares of Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after acquiring an additional 387,309 shares during the last quarter. Synovus Financial Corp increased its holdings in Autodesk by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock valued at $3,522,000 after purchasing an additional 421 shares in the last quarter. Tidal Investments LLC raised its position in Autodesk by 245.4% in the 3rd quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock valued at $21,214,000 after purchasing an additional 54,712 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Autodesk in the third quarter worth $4,751,000. Finally, World Investment Advisors LLC acquired a new position in Autodesk in the third quarter worth $3,923,000. 90.24% of the stock is owned by institutional investors.

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.