Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00 at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its price objective increased by equities research analysts at Stifel Nicolaus from $320.00 to $340.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 13.83% from the stock’s previous close.

Several other analysts also recently issued reports on ADSK. Bank of America boosted their price objective on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Barclays lifted their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 price objective on shares of Autodesk in a research note on Monday, September 30th. Finally, BMO Capital Markets boosted their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Stock Down 2.6 %

Shares of NASDAQ:ADSK traded down $7.96 during trading on Friday, hitting $298.69. The company’s stock had a trading volume of 501,640 shares, compared to its average volume of 1,571,372. The stock’s 50-day moving average price is $280.34 and its two-hundred day moving average price is $250.66. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The company has a market capitalization of $64.22 billion, a PE ratio of 61.08, a PEG ratio of 4.00 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.

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

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated 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 directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,730 shares of company stock valued at $5,064,430 in the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Financial Group LLC boosted its position in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares in the last quarter. Avitas Wealth Management LLC lifted its stake in Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after purchasing an additional 42 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares during the period. Meeder Asset Management Inc. boosted its holdings in Autodesk by 28.9% during the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after buying an additional 45 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.