Autodesk (NASDAQ:ADSK) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a research report released on Friday,Benzinga reports. They currently have a $345.00 target price on the software company’s stock, up from their previous target price of $313.03.

A number of other equities research analysts have also recently issued reports on the company. Barclays raised their target price on Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus raised their target price on Autodesk from $310.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup reiterated a “buy” rating and issued a $374.00 target price (up from $346.00) on shares of Autodesk in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. cut their target price on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $337.18.

Autodesk Stock Performance

ADSK stock opened at $295.35 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $63.19 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.94 and a beta of 1.47. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The stock’s fifty day moving average is $271.64 and its two-hundred day moving average is $286.45.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company’s stock worth $5,440,968,000 after acquiring an additional 397,458 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company’s stock worth $1,347,400,000 after acquiring an additional 79,900 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company’s stock worth $904,326,000 after acquiring an additional 400,514 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company’s stock worth $868,736,000 after acquiring an additional 1,016,187 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.