Evercore ISI Reiterates “Buy” Rating for Autodesk (NASDAQ:ADSK)

Evercore ISI reaffirmed their buy rating on shares of Autodesk (NASDAQ:ADSK) in a report published on Sunday morning, AnalystRatings.com reports. The firm currently has a $190.00 price objective on the software company’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Autodesk from $165.00 to $160.00 and set a neutral rating on the stock in a report on Wednesday, August 28th. Barclays lowered their price objective on Autodesk from $199.00 to $173.00 and set an overweight rating on the stock in a research report on Wednesday, August 28th. KeyCorp reaffirmed an overweight rating and issued a $184.00 price objective (down previously from $196.00) on shares of Autodesk in a research note on Wednesday, August 28th. Citigroup cut their target price on Autodesk from $210.00 to $186.00 and set a buy rating for the company in a research report on Wednesday, August 28th. Finally, Bank of America downgraded Autodesk from a neutral rating to an underperform rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $169.48.

Shares of NASDAQ ADSK opened at $148.05 on Friday. The stock has a market cap of $33.02 billion, a PE ratio of 1,345.91, a price-to-earnings-growth ratio of 2.62 and a beta of 1.84. Autodesk has a 1 year low of $117.72 and a 1 year high of $178.95. The firm has a fifty day moving average price of $150.04 and a 200-day moving average price of $161.73.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, August 27th. The software company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $796.80 million for the quarter, compared to analysts’ expectations of $788.00 million. Autodesk had a net margin of 1.95% and a negative return on equity of 59.32%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, sell-side analysts expect that Autodesk will post 1.51 earnings per share for the current fiscal year.

In other Autodesk news, CAO Stephen W. Hope sold 263 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.02, for a total transaction of $39,718.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Anagnost sold 2,434 shares of Autodesk stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $169.47, for a total value of $412,489.98. The disclosure for this sale can be found here. Insiders sold 6,036 shares of company stock worth $987,926 over the last quarter. 0.12% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Capital Management LLC bought a new stake in Autodesk in the second quarter worth $225,864,000. Nuveen Asset Management LLC grew its stake in shares of Autodesk by 489.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,152,889 shares of the software company’s stock worth $187,805,000 after buying an additional 957,445 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Autodesk in the 1st quarter worth $93,517,000. Egerton Capital UK LLP grew its stake in shares of Autodesk by 30.4% in the 1st quarter. Egerton Capital UK LLP now owns 2,228,779 shares of the software company’s stock worth $347,288,000 after buying an additional 519,100 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Autodesk by 28.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,249,141 shares of the software company’s stock worth $366,384,000 after buying an additional 492,665 shares during the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

Further Reading: Net Margin

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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