Autodesk, Inc. (ADSK) PT Raised to $150.00 at Wells Fargo & Company
Autodesk, Inc. (NASDAQ:ADSK) had its price objective hoisted by Wells Fargo & Company from $135.00 to $150.00 in a research note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the software company’s stock. Wells Fargo & Company’s price objective indicates a potential upside of 17.66% from the stock’s current price.
ADSK has been the subject of several other research reports. Canaccord Genuity restated a “buy” rating and issued a $140.00 target price (up previously from $125.00) on shares of Autodesk in a research note on Thursday. KeyCorp restated an “overweight” rating and issued a $136.00 target price (up previously from $127.00) on shares of Autodesk in a research note on Thursday. Royal Bank Of Canada restated a “buy” rating on shares of Autodesk in a research note on Wednesday. Evercore ISI set a $135.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim upgraded shares of Autodesk from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $124.50.
Shares of Autodesk (NASDAQ:ADSK) opened at $127.49 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk has a 52 week low of $68.06 and a 52 week high of $127.92.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 net margin of 30.01% and a negative return on equity of 60.14%. Autodesk’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. analysts forecast that Autodesk will post -1.38 earnings per share for the current fiscal year.
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In other Autodesk news, SVP Fronzo Pascal W. Di sold 19,577 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $125.00, for a total transaction of $2,447,125.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Crawford W. Beveridge sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $112.82, for a total transaction of $169,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,789 shares of company stock valued at $9,189,363 over the last 90 days. 6.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Andra AP fonden boosted its stake in shares of Autodesk by 6.4% during the 2nd quarter. Andra AP fonden now owns 25,100 shares of the software company’s stock worth $2,531,000 after purchasing an additional 1,500 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Autodesk by 5.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 349,499 shares of the software company’s stock worth $35,236,000 after purchasing an additional 16,629 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Autodesk by 17.7% during the 2nd quarter. Advisor Group Inc. now owns 6,584 shares of the software company’s stock worth $664,000 after purchasing an additional 989 shares during the last quarter. Lucha Capital Management LP acquired a new stake in shares of Autodesk during the 2nd quarter worth about $8,425,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Autodesk during the 2nd quarter worth about $2,168,000. 94.63% of the stock is currently owned by institutional investors.
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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