Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00 at KeyCorp

Autodesk (NASDAQ:ADSK) had its price objective lifted by KeyCorp from $325.00 to $330.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

ADSK has been the topic of several other research reports. Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target on the stock. Royal Bank of Canada upped their target price on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities increased their target price on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $302.38.

Autodesk Stock Up 0.9 %

Shares of NASDAQ:ADSK opened at $307.84 on Wednesday. The business has a fifty day simple moving average of $284.18 and a 200 day simple moving average of $253.46. Autodesk has a 12-month low of $195.32 and a 12-month high of $315.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market cap of $66.19 billion, a P/E ratio of 62.95, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Analysts predict that Autodesk will post 5.73 earnings per share for the current year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently added to or reduced their stakes in the business. Jag Capital Management LLC purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $13,861,000. Cetera Investment Advisers grew its position in Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after buying an additional 3,259 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after acquiring an additional 49,500 shares during 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.