Autodesk (NASDAQ:ADSK) Rating Increased to Overweight at Piper Sandler

Autodesk (NASDAQ:ADSK) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $357.00 price target on the software company’s stock, up from their prior price target of $311.00. Piper Sandler’s target price suggests a potential upside of 22.76% from the company’s previous close.

ADSK has been the topic of several other reports. Morgan Stanley increased their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price for the company. UBS Group started coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Oppenheimer lifted their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target on the stock. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $326.05.

Autodesk Trading Down 0.6 %

Shares of Autodesk stock opened at $290.82 on Wednesday. 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 $62.53 billion, a P/E ratio of 57.70, a P/E/G ratio of 3.62 and a beta of 1.42. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The stock’s 50-day simple moving average is $301.04 and its 200 day simple moving average is $273.21.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. As a group, research analysts anticipate that Autodesk will post 5.76 EPS for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in ADSK. Caprock Group LLC raised its position in Autodesk by 18.4% in the second quarter. Caprock Group LLC now owns 3,872 shares of the software company’s stock worth $958,000 after acquiring an additional 601 shares during the period. Choreo LLC lifted its position in Autodesk by 282.9% during the second quarter. Choreo LLC now owns 5,988 shares of the software company’s stock valued at $1,474,000 after purchasing an additional 4,424 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Autodesk by 11.7% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,375 shares of the software company’s stock valued at $588,000 after purchasing an additional 248 shares during the period. VitalStone Financial LLC bought a new stake in Autodesk during the second quarter valued at about $344,000. Finally, LPL Financial LLC raised its stake in shares of Autodesk by 8.2% in the second quarter. LPL Financial LLC now owns 165,034 shares of the software company’s stock worth $40,838,000 after buying an additional 12,522 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.