Autodesk, Inc. (ADSK) Receives Average Recommendation of “Buy” from Brokerages
Shares of Autodesk, Inc. (NASDAQ:ADSK) have been assigned a consensus rating of “Buy” from the twenty-six research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $117.89.
Several equities research analysts have weighed in on ADSK shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Autodesk in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Autodesk from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Autodesk in a research report on Friday, August 25th. OTR Global cut shares of Autodesk to a “positive” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird set a $125.00 price target on shares of Autodesk and gave the company a “buy” rating in a research report on Sunday.
Shares of Autodesk (NASDAQ ADSK) traded up 0.37% during trading on Wednesday, reaching $114.05. 1,122,918 shares of the company were exchanged. Autodesk has a one year low of $67.15 and a one year high of $119.73. The stock has a 50-day moving average price of $112.64 and a 200-day moving average price of $103.46. The stock’s market capitalization is $25.00 billion.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. Analysts forecast that Autodesk will post ($0.54) EPS for the current year.
In related news, Director Carl Bass sold 26,753 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $100.88, for a total transaction of $2,698,842.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Fronzo Pascal W. Di sold 580 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders have sold a total of 86,965 shares of company stock worth $9,441,081 over the last three months. 6.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Autodesk by 13.9% during the 1st quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock valued at $2,617,565,000 after purchasing an additional 3,698,259 shares during the last quarter. Vanguard Group Inc. grew its position in Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares during the last quarter. BlackRock Inc. grew its position in Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after purchasing an additional 735,647 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Autodesk by 2.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 9,615,501 shares of the software company’s stock valued at $831,453,000 after purchasing an additional 262,238 shares during the last quarter. Finally, State Street Corp grew its position in Autodesk by 0.5% during the 1st quarter. State Street Corp now owns 7,978,179 shares of the software company’s stock valued at $689,876,000 after purchasing an additional 37,455 shares during the last quarter. 94.79% of the stock is currently owned by institutional investors.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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