Autodesk, Inc. (ADSK) Receives Consensus Recommendation of “Buy” from Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has earned a consensus recommendation of “Buy” from the twenty-six brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $117.89.

A number of equities research analysts have issued reports on ADSK shares. Berenberg Bank started coverage on Autodesk in a research note on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price target for the company. Cowen and Company restated a “buy” rating and set a $115.00 price target on shares of Autodesk in a research note on Friday, August 18th. Evercore ISI set a $115.00 price target on Autodesk and gave the company a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG started coverage on Autodesk in a research note on Wednesday, July 19th. They set a “buy” rating and a $130.00 price target for the company. Finally, BidaskClub downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th.

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Shares of Autodesk (NASDAQ:ADSK) traded up 1.84% during trading on Friday, reaching $123.58. 1,523,684 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $116.04 and a 200 day moving average price of $107.43. Autodesk has a 12 month low of $67.15 and a 12 month high of $123.97. The firm’s market cap is $27.09 billion.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million during the quarter, compared to the consensus estimate of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. On average, analysts forecast that Autodesk will post ($0.54) EPS for the current year.

In other news, SVP Fronzo Pascal W. Di sold 580 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $110.91, for a total transaction of $64,327.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $112.73, for a total value of $2,705,970.92. The disclosure for this sale can be found here. Insiders have sold a total of 60,212 shares of company stock worth $6,742,238 over the last ninety days. Insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock worth $2,058,545,000 after acquiring an additional 466,724 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock worth $1,612,787,000 after acquiring an additional 735,647 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Autodesk by 18.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock worth $281,589,000 after acquiring an additional 436,261 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Autodesk by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 2,678,479 shares of the software company’s stock worth $270,044,000 after acquiring an additional 147,911 shares in the last quarter. Finally, Fred Alger Management Inc. raised its holdings in shares of Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock worth $243,405,000 after acquiring an additional 829,021 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

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