Oppenheimer Initiates Coverage on Autodesk (ADSK)

Analysts at Oppenheimer assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research note issued on Thursday. The firm set a “buy” rating and a $135.00 price target on the software company’s stock. Oppenheimer’s price objective would suggest a potential upside of 29.95% from the company’s previous close.

A number of other brokerages have also commented on ADSK. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Autodesk in a report on Friday, August 25th. Berenberg Bank started coverage on Autodesk in a report on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price target on the stock. Deutsche Bank set a $140.00 price target on Autodesk and gave the company a “buy” rating in a report on Wednesday, November 29th. Evercore ISI set a $135.00 price target on Autodesk and gave the company a “buy” rating in a report on Wednesday. Finally, Cowen raised their price target on Autodesk from $115.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company. Autodesk presently has an average rating of “Buy” and a consensus price target of $132.77.

Shares of Autodesk (ADSK) opened at $103.89 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.78. The stock has a market capitalization of $23,000.00, a price-to-earnings ratio of -40.42 and a beta of 1.91. Autodesk has a one year low of $73.60 and a one year high of $131.10.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $513.63 million. Autodesk had a negative return on equity of 93.60% and a negative net margin of 28.46%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned ($0.18) earnings per share. equities research analysts anticipate that Autodesk will post -1.37 EPS for the current fiscal year.

In other Autodesk news, CFO Richard Scott Herren sold 5,738 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $128.14, for a total transaction of $735,267.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 580 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $110.91, for a total value of $64,327.80. The disclosure for this sale can be found here. Insiders have sold a total of 52,395 shares of company stock valued at $6,184,155 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ADSK. Brighton Jones LLC lifted its holdings in Autodesk by 0.3% in the 2nd quarter. Brighton Jones LLC now owns 5,736 shares of the software company’s stock worth $578,000 after purchasing an additional 17 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Autodesk by 0.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,511 shares of the software company’s stock worth $858,000 after purchasing an additional 42 shares in the last quarter. Parallel Advisors LLC boosted its stake in Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after purchasing an additional 44 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Autodesk by 3.0% in the second quarter. Oppenheimer & Co. Inc. now owns 3,249 shares of the software company’s stock worth $327,000 after purchasing an additional 94 shares in the last quarter. Finally, Prudential PLC boosted its stake in Autodesk by 3.2% in the second quarter. Prudential PLC now owns 3,200 shares of the software company’s stock worth $323,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

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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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