Autodesk’s (ADSK) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Autodesk (NASDAQ:ADSK)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $305.00 price target on the software company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 40.28% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group raised shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $330.00 price target on shares of Autodesk in a research report on Monday, August 31st. Cantor Fitzgerald began coverage on Autodesk in a report on Monday. They set a “neutral” rating and a $215.00 price objective for the company. KeyCorp reissued an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded Autodesk from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $318.03.

Autodesk Trading Down 1.3%

ADSK opened at $217.43 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.48 and a beta of 1.31. Autodesk has a 12 month low of $185.50 and a 12 month high of $326.71. The stock has a fifty day moving average price of $233.02 and a 200-day moving average price of $232.00.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities research analysts anticipate that Autodesk will post 9.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Cahill purchased 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of large investors have recently bought and sold shares of ADSK. The Manufacturers Life Insurance Company raised its position in Autodesk by 116.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 444,419 shares of the software company’s stock worth $86,404,000 after buying an additional 239,524 shares during the last quarter. National Pension Service boosted its holdings in shares of Autodesk by 4.1% in the 2nd quarter. National Pension Service now owns 849,876 shares of the software company’s stock valued at $165,233,000 after acquiring an additional 33,448 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Autodesk by 438.6% in the 2nd quarter. WINTON GROUP Ltd now owns 35,659 shares of the software company’s stock valued at $6,933,000 after acquiring an additional 29,038 shares during the last quarter. GFG Capital LLC increased its stake in shares of Autodesk by 12.8% in the second quarter. GFG Capital LLC now owns 10,619 shares of the software company’s stock worth $2,065,000 after acquiring an additional 1,204 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Autodesk by 24.8% during the second quarter. IFP Advisors Inc now owns 2,380 shares of the software company’s stock worth $463,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.