Royal Bank Of Canada Reiterates Buy Rating for Autodesk, Inc. (ADSK)
Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Autodesk from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Evercore ISI set a $115.00 price objective on shares of Autodesk and gave the company a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG started coverage on shares of Autodesk in a report on Wednesday, July 19th. They issued a “buy” rating and a $130.00 price objective for the company. Cowen and Company increased their price objective on shares of Autodesk from $115.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Finally, KeyCorp reiterated a “buy” rating and issued a $128.00 price objective on shares of Autodesk in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Autodesk presently has a consensus rating of “Buy” and a consensus price target of $121.95.
Autodesk (ADSK) opened at $123.87 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk has a 1-year low of $68.06 and a 1-year high of $126.44.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. equities analysts forecast that Autodesk will post -1.38 EPS for the current fiscal year.
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In other Autodesk news, SVP Fronzo Pascal W. Di sold 580 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $110.91, for a total value of $64,327.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total transaction of $2,447,125.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,789 shares of company stock valued at $9,189,363. Insiders own 6.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ADSK. Dimensional Fund Advisors LP lifted its position in Autodesk by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 324,071 shares of the software company’s stock worth $28,022,000 after buying an additional 19,439 shares in the last quarter. Bank of Montreal Can lifted its position in Autodesk by 12.1% in the 2nd quarter. Bank of Montreal Can now owns 116,125 shares of the software company’s stock worth $11,709,000 after buying an additional 12,528 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Autodesk by 6.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 47,793 shares of the software company’s stock worth $4,949,000 after purchasing an additional 3,000 shares during the last quarter. Aperio Group LLC increased its stake in shares of Autodesk by 15.3% during the 2nd quarter. Aperio Group LLC now owns 114,324 shares of the software company’s stock worth $11,526,000 after purchasing an additional 15,162 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Autodesk during the 2nd quarter worth $36,221,000. Institutional investors own 94.63% of the company’s stock.
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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