Autodesk (NASDAQ:ADSK) Issues Quarterly Earnings Results

Autodesk (NASDAQ:ADSK) released its earnings results on Thursday. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15, RTT News reports. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS.

Autodesk Stock Up 1.4 %

ADSK stock opened at $258.23 on Friday. The business has a 50-day moving average of $245.35 and a 200-day moving average of $239.27. Autodesk has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The stock has a market capitalization of $55.65 billion, a P/E ratio of 55.89, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADSK. Bank of America reduced their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $290.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. Morgan Stanley began coverage on Autodesk in a research note on Friday, August 23rd. They issued an “overweight” rating and a $305.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Autodesk in a research report on Tuesday, June 18th. Finally, BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.17.

Insider Activity at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,931 shares of company stock valued at $9,537,781. 0.14% of the stock is owned by insiders.

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.