Autodesk (ADSK) Price Target Raised to $155.00 at Robert W. Baird

Autodesk (NASDAQ:ADSK) had its target price lifted by analysts at Robert W. Baird from $145.00 to $155.00 in a research report issued to clients and investors on Wednesday, April 11th. The brokerage currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s target price indicates a potential upside of 17.13% from the company’s previous close.

ADSK has been the topic of several other reports. BidaskClub upgraded Autodesk from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $150.00 target price (up from $135.00) on shares of Autodesk in a report on Wednesday, March 7th. Oppenheimer started coverage on Autodesk in a report on Friday, December 29th. They set an “outperform” rating and a $135.00 price target on the stock. Zacks Investment Research cut Autodesk from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Finally, KeyCorp restated a “buy” rating and set a $134.00 price target on shares of Autodesk in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $144.24.

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Shares of ADSK stock opened at $132.33 on Wednesday. Autodesk has a one year low of $87.16 and a one year high of $141.26. The company has a market capitalization of $29,227.55, a P/E ratio of -82.71 and a beta of 1.71. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of -6.20.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, March 6th. The software company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. The business had revenue of $554.00 million for the quarter, compared to analysts’ expectations of $544.74 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. sell-side analysts anticipate that Autodesk will post -0.03 EPS for the current fiscal year.

In related news, SVP Steven M. Blum sold 20,458 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $123.60, for a total value of $2,528,608.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul D. Underwood sold 2,746 shares of the stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $127.71, for a total value of $350,691.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,475 shares of company stock worth $6,094,232. 6.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its holdings in shares of Autodesk by 16.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 29,394 shares of the software company’s stock worth $3,081,000 after purchasing an additional 4,173 shares in the last quarter. Delek Group Ltd. purchased a new stake in Autodesk in the 4th quarter valued at $132,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Autodesk by 59.4% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,465 shares of the software company’s stock valued at $1,097,000 after buying an additional 3,900 shares during the last quarter. BB&T Investment Services Inc. raised its position in Autodesk by 29.5% in the 4th quarter. BB&T Investment Services Inc. now owns 11,742 shares of the software company’s stock valued at $1,230,000 after buying an additional 2,676 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in Autodesk in the 4th quarter valued at $7,110,000. Institutional investors own 96.34% of the company’s stock.

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About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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