Evercore ISI Reaffirms Buy Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by stock analysts at Evercore ISI in a research report issued on Wednesday, December 6th. They presently have a $135.00 target price on the software company’s stock. Evercore ISI’s target price would suggest a potential upside of 28.78% from the stock’s previous close.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. restated a “buy” rating and set a $130.00 price target on shares of Autodesk in a report on Wednesday, November 29th. Guggenheim raised their price target on shares of Autodesk from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Canaccord Genuity restated a “buy” rating and set a $135.00 price target on shares of Autodesk in a report on Wednesday, November 29th. Deutsche Bank set a $140.00 price target on shares of Autodesk and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, Credit Suisse Group restated an “outperform” rating and set a $135.00 price target (down from $140.00) on shares of Autodesk in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. Autodesk presently has an average rating of “Buy” and an average target price of $132.77.

Shares of Autodesk (ADSK) traded down $0.24 on Wednesday, hitting $104.83. 1,068,292 shares of the company’s stock traded hands, compared to its average volume of 2,296,285. Autodesk has a one year low of $73.60 and a one year high of $131.10. The firm has a market capitalization of $23,143.43, a PE ratio of -40.79 and a beta of 1.91. The company has a debt-to-equity ratio of 14.78, a quick ratio of 1.07 and a current ratio of 1.07.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $513.63 million. Autodesk had a negative net margin of 28.46% and a negative return on equity of 93.60%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company posted ($0.18) earnings per share. sell-side analysts forecast that Autodesk will post -1.37 EPS for the current year.

In other news, Director Lorrie M. Norrington sold 6,005 shares of Autodesk stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $104.40, for a total value of $626,922.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Crawford W. Beveridge sold 1,500 shares of Autodesk stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. The disclosure for this sale can be found here. In the last three months, insiders sold 33,400 shares of company stock worth $4,033,077. Insiders own 6.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Atlantic Trust Group LLC increased its position in Autodesk by 633.0% during the third quarter. Atlantic Trust Group LLC now owns 132,728 shares of the software company’s stock worth $14,900,000 after acquiring an additional 114,621 shares during the period. Parametric Portfolio Associates LLC increased its position in Autodesk by 9.5% during the third quarter. Parametric Portfolio Associates LLC now owns 641,526 shares of the software company’s stock worth $72,018,000 after acquiring an additional 55,424 shares during the period. Public Employees Retirement System of Ohio increased its position in Autodesk by 11.9% during the third quarter. Public Employees Retirement System of Ohio now owns 312,059 shares of the software company’s stock worth $35,032,000 after acquiring an additional 33,091 shares during the period. IFM Investors Pty Ltd bought a new position in Autodesk during the third quarter worth $619,000. Finally, Insight Capital Research & Management Inc. increased its position in Autodesk by 96.5% during the third quarter. Insight Capital Research & Management Inc. now owns 23,925 shares of the software company’s stock worth $2,686,000 after acquiring an additional 11,752 shares during the period. 95.34% of the stock is currently owned by institutional investors and hedge funds.

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About Autodesk

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).

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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