Autodesk (NASDAQ:ADSK) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $340.00 target price on the software company’s stock.

ADSK has been the topic of a number of other research reports. Rosenblatt Securities raised their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada boosted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Oppenheimer upped their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup lifted their target price on Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Trading Up 0.9 %

Shares of NASDAQ:ADSK opened at $289.19 on Wednesday. Autodesk has a 52 week low of $192.01 and a 52 week high of $289.36. The company’s 50 day moving average is $262.02 and its two-hundred day moving average is $241.56. The company has a market cap of $62.32 billion, a PE ratio of 62.60, a P/E/G ratio of 3.52 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. Equities analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares in the company, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,200,929 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Concord Wealth Partners purchased a new stake in Autodesk during the first quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in shares of Autodesk during the 1st quarter worth $26,000. Olistico Wealth LLC purchased a new stake in shares of Autodesk in the 2nd quarter worth about $26,000. Finally, Pacifica Partners Inc. grew its stake in Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.