Autodesk (ADSK) Upgraded at BidaskClub

BidaskClub upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report issued on Wednesday morning.

ADSK has been the topic of several other research reports. Evercore ISI set a $135.00 price target on Autodesk and gave the company a buy rating in a research note on Wednesday, October 18th. Royal Bank of Canada reissued a buy rating on shares of Autodesk in a research note on Wednesday, November 15th. KeyCorp reissued a buy rating and set a $128.00 target price on shares of Autodesk in a research note on Friday, October 6th. Robert W. Baird set a $125.00 target price on Autodesk and gave the stock a buy rating in a research note on Sunday, October 1st. Finally, Oppenheimer assumed coverage on Autodesk in a research note on Friday, December 29th. They set an outperform rating and a $135.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. Autodesk presently has an average rating of Buy and a consensus price target of $132.77.

Autodesk (NASDAQ:ADSK) opened at $110.84 on Wednesday. Autodesk has a 12 month low of $76.89 and a 12 month high of $131.10. The company has a debt-to-equity ratio of 14.78, a quick ratio of 1.07 and a current ratio of 1.07.

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

In other news, SVP Fronzo Pascal W. Di sold 19,577 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total value of $2,447,125.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lorrie M. Norrington sold 6,005 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $104.40, for a total value of $626,922.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,825 shares of company stock worth $4,595,671. Company insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cable Hill Partners LLC increased its holdings in shares of Autodesk by 276.7% in the 3rd quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock valued at $145,000 after acquiring an additional 949 shares during the last quarter. Harfst & Associates Inc. purchased a new position in shares of Autodesk in the 2nd quarter valued at about $150,000. Frontier Wealth Management LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at about $206,000. Cedar Capital LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at about $207,000. Finally, Sand Hill Global Advisors LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at about $216,000. Institutional investors and hedge funds own 95.34% 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).

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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