Autodesk (NASDAQ:ADSK) Upgraded at Hsbc Global Res

Autodesk (NASDAQ:ADSK) was upgraded by investment analysts at Hsbc Global Res to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Several other research analysts also recently issued reports on ADSK. Royal Bank of Canada upped their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Barclays increased their target price on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Stifel Nicolaus lifted their price target on Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Mizuho raised their price objective on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Oppenheimer lifted their target price on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Stock Performance

NASDAQ:ADSK opened at $255.79 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $55.13 billion, a PE ratio of 55.37, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The stock’s 50-day simple moving average is $246.91 and its 200 day simple moving average is $239.18.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. 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 18.21% and a return on equity of 64.61%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. On average, analysts anticipate that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders sold 57,275 shares of company stock valued at $14,220,661 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of ADSK. VisionPoint Advisory Group LLC lifted its position in Autodesk by 21.5% in the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock valued at $58,000 after acquiring an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after purchasing an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after buying an additional 45 shares during the last quarter. Beacon Financial Group grew its holdings in Autodesk by 4.1% during the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock worth $304,000 after buying an additional 49 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in Autodesk by 2.8% during the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after buying an additional 49 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

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.