Autodesk (NASDAQ:ADSK) Price Target Cut to $343.00 by Analysts at Royal Bank of Canada

Autodesk (NASDAQ:ADSK) had its price target lowered by Royal Bank of Canada from $363.00 to $343.00 in a research note published on Wednesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the software company’s stock.

ADSK has been the subject of several other reports. Mizuho increased their target price on Autodesk from $350.00 to $380.00 and gave the company a buy rating in a research note on Monday, November 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Autodesk from a sell rating to a hold rating and set a $324.00 target price for the company in a research note on Wednesday, July 28th. Oppenheimer reduced their target price on Autodesk from $350.00 to $315.00 and set an outperform rating for the company in a research note on Wednesday. Rosenblatt Securities reduced their target price on Autodesk from $355.00 to $340.00 and set a buy rating for the company in a research note on Wednesday. Finally, Robert W. Baird increased their target price on Autodesk from $370.00 to $380.00 and gave the company an outperform rating in a research note on Wednesday, November 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $337.00.

Shares of NASDAQ:ADSK opened at $256.90 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. Autodesk has a 52-week low of $245.05 and a 52-week high of $344.39. The company has a 50 day moving average of $301.09 and a two-hundred day moving average of $298.95. The company has a market capitalization of $56.48 billion, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.36.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Monday, November 22nd. The software company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $0.69 earnings per share. Autodesk’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities analysts anticipate that Autodesk will post 2.86 earnings per share for the current year.

In other news, CEO Andrew Anagnost sold 2,434 shares of the firm’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $286.18, for a total transaction of $696,562.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 262 shares of the firm’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $286.46, for a total value of $75,052.52. The disclosure for this sale can be found here. Insiders sold 8,263 shares of company stock worth $2,384,406 over the last ninety days. 0.11% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Liontrust Investment Partners LLP acquired a new position in shares of Autodesk in the 3rd quarter valued at $233,355,000. American International Group Inc. boosted its position in shares of Autodesk by 4.8% in the 3rd quarter. American International Group Inc. now owns 99,649 shares of the software company’s stock valued at $28,417,000 after purchasing an additional 4,546 shares during the period. Personal CFO Solutions LLC boosted its position in shares of Autodesk by 12.6% in the 3rd quarter. Personal CFO Solutions LLC now owns 5,732 shares of the software company’s stock valued at $1,635,000 after purchasing an additional 643 shares during the period. Gyon Technologies Capital Management LP acquired a new position in shares of Autodesk in the 3rd quarter valued at $1,317,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Autodesk in the 3rd quarter valued at $1,601,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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