Autodesk (NASDAQ:ADSK) Releases Quarterly Earnings Results, Meets Expectations

Autodesk (NASDAQ:ADSKGet Rating) announced its quarterly earnings data on Tuesday. The software company reported $1.70 EPS for the quarter, hitting the consensus estimate of $1.70, Yahoo Finance reports. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS.

Autodesk Stock Down 5.7 %

ADSK stock opened at $197.07 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $42.54 billion, a PE ratio of 77.89, a PEG ratio of 1.83 and a beta of 1.49. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38. The stock has a 50-day simple moving average of $201.79 and a two-hundred day simple moving average of $198.87.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. StockNews.com began coverage on shares of Autodesk in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Rosenblatt Securities lowered their target price on Autodesk from $270.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their target price on Autodesk from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Wednesday. Oppenheimer lowered their target price on Autodesk from $255.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Bank of America lowered their target price on Autodesk from $240.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $241.57.

Insider Buying and Selling at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADSK. Lazard Asset Management LLC grew its holdings in shares of Autodesk by 64.4% during the first quarter. Lazard Asset Management LLC now owns 579,794 shares of the software company’s stock worth $124,277,000 after purchasing an additional 227,098 shares in the last quarter. Macquarie Group Ltd. lifted its position in Autodesk by 21.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,183,689 shares of the software company’s stock worth $203,547,000 after buying an additional 205,595 shares during the last quarter. Invesco Ltd. lifted its position in Autodesk by 18.9% in the 1st quarter. Invesco Ltd. now owns 1,005,551 shares of the software company’s stock worth $215,538,000 after buying an additional 159,898 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Autodesk in the 1st quarter worth approximately $27,284,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Autodesk in the 1st quarter worth approximately $22,396,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

See Also

Earnings History for Autodesk (NASDAQ:ADSK)

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