OTR Global Upgrades Autodesk (ADSK) to “Positive”

Autodesk (NASDAQ:ADSK) was upgraded by equities research analysts at OTR Global to a “positive” rating in a research note issued on Monday, The Fly reports.

A number of other equities analysts have also commented on the company. KeyCorp restated a “buy” rating and set a $128.00 price objective on shares of Autodesk in a research note on Friday, November 10th. Deutsche Bank set a $140.00 target price on Autodesk and gave the company a “buy” rating in a report on Wednesday, November 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $125.00) on shares of Autodesk in a report on Thursday, November 16th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Autodesk in a report on Wednesday, November 15th. Finally, Guggenheim raised their target price on Autodesk from $110.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Autodesk presently has a consensus rating of “Buy” and an average target price of $132.68.

Autodesk (NASDAQ:ADSK) traded up $2.73 during trading on Monday, reaching $114.38. The company’s stock had a trading volume of 906,606 shares, compared to its average volume of 1,964,813. Autodesk has a 12-month low of $81.75 and a 12-month high of $131.10. The company has a debt-to-equity ratio of 14.78, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $24,590.00, a price-to-earnings ratio of -44.50, a PEG ratio of 15.07 and a beta of 1.91.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative return on equity of 93.60% and a negative net margin of 28.46%. The firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $513.63 million. During the same quarter last year, the company earned ($0.18) EPS. The company’s revenue was up 5.2% on a year-over-year basis. equities analysts expect that Autodesk will post -1.37 earnings per share for the current year.

In related news, Director Lorrie M. Norrington sold 6,005 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $104.40, for a total transaction of $626,922.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Crawford W. Beveridge sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $106.29, for a total value of $159,435.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,248 shares of company stock worth $2,148,546. 6.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new position in Autodesk during the 4th quarter worth about $116,000. Cable Hill Partners LLC lifted its holdings in Autodesk by 276.7% during the 3rd quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock worth $145,000 after buying an additional 949 shares during the period. Cedar Capital LLC acquired a new position in Autodesk during the 3rd quarter worth about $207,000. Exane Derivatives acquired a new position in Autodesk during the 4th quarter worth about $199,000. Finally, Wedbush Securities Inc. acquired a new position in Autodesk during the 3rd quarter worth about $216,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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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).

The Fly

Analyst Recommendations for Autodesk (NASDAQ:ADSK)