Autodesk’s (ADSK) “Outperform” Rating Reaffirmed at Evercore ISI
Evercore ISI reiterated their outperform rating on shares of Autodesk, Inc. (NASDAQ:ADSK) in a research note issued to investors on Friday. Evercore ISI currently has a $135.00 price target on the software company’s stock.
ADSK has been the subject of a number of other research reports. BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Royal Bank Of Canada lifted their price objective on Autodesk from $87.00 to $95.00 and gave the stock a sector perform rating in a research report on Wednesday, May 17th. Zacks Investment Research cut Autodesk from a hold rating to a sell rating in a research report on Tuesday, July 18th. KeyCorp lifted their price objective on Autodesk from $115.00 to $128.00 and gave the stock an overweight rating in a research report on Friday. Finally, Wedbush reiterated an outperform rating and set a $125.00 price objective (up previously from $120.00) on shares of Autodesk in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Autodesk currently has a consensus rating of Buy and a consensus price target of $113.19.
Autodesk (NASDAQ ADSK) opened at 111.48 on Friday. The stock’s market capitalization is $24.47 billion. The firm has a 50 day moving average of $109.09 and a 200-day moving average of $97.98. Autodesk has a 52 week low of $65.06 and a 52 week high of $119.73.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts predict that Autodesk will post ($0.54) EPS for the current year.
In related news, Director Betsy Rafael sold 2,354 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $106.24, for a total transaction of $250,088.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl Bass sold 26,753 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $100.88, for a total value of $2,698,842.64. The disclosure for this sale can be found here. Insiders have sold a total of 167,705 shares of company stock worth $17,590,771 over the last three months. 6.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. raised its position in Autodesk by 30.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 72,925 shares of the software company’s stock valued at $6,306,000 after buying an additional 17,225 shares during the period. Canada Pension Plan Investment Board raised its position in Autodesk by 11.2% in the first quarter. Canada Pension Plan Investment Board now owns 109,872 shares of the software company’s stock valued at $9,501,000 after buying an additional 11,100 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Autodesk by 14.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,928 shares of the software company’s stock valued at $1,463,000 after buying an additional 2,152 shares during the period. Wetherby Asset Management Inc. raised its position in Autodesk by 23.2% in the first quarter. Wetherby Asset Management Inc. now owns 4,096 shares of the software company’s stock valued at $354,000 after buying an additional 772 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Autodesk by 488.2% in the first quarter. Russell Investments Group Ltd. now owns 47,357 shares of the software company’s stock valued at $4,095,000 after buying an additional 39,306 shares during the period. 94.26% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Company Profile
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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