Autodesk (NASDAQ:ADSK) Announces Quarterly Earnings Results

Autodesk (NASDAQ:ADSK) released its quarterly earnings data on Tuesday. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05, Briefing.com reports. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Autodesk updated its Q4 guidance to $2.10-2.16 EPS.

Autodesk Stock Down 0.4 %

NASDAQ:ADSK traded down $1.43 during trading hours on Tuesday, reaching $317.96. The company’s stock had a trading volume of 2,466,512 shares, compared to its average volume of 1,582,789. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The stock has a 50 day moving average price of $287.47 and a two-hundred day moving average price of $255.89. The company has a market capitalization of $68.36 billion, a P/E ratio of 64.98, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’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 transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This represents a 50.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last three months. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ADSK. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective on the stock. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and upped their price target for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada upped their target price 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. Finally, HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and upped their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Company Profile

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.