KeyCorp Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective boosted by KeyCorp from $325.00 to $330.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

Several other equities research analysts also recently commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $320.00 target price on shares of Autodesk in a research note on Monday, September 30th. Berenberg Bank upped their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, Barclays raised their price target on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.38.

Autodesk Stock Performance

Shares of ADSK opened at $307.84 on Wednesday. Autodesk has a 52-week low of $195.32 and a 52-week high of $315.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $284.18 and a 200 day moving average price of $253.46. The firm has a market capitalization of $66.19 billion, a PE ratio of 62.95, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion during 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 firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. On average, sell-side analysts anticipate that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $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. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors have recently made changes to their positions in the business. SOA Wealth Advisors LLC. raised its stake in Autodesk by 164.0% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock worth $63,000 after acquiring an additional 141 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Autodesk by 13.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 801 shares of the software company’s stock valued at $221,000 after purchasing an additional 97 shares in the last quarter. Fortem Financial Group LLC boosted its holdings in Autodesk by 46.0% in the 3rd quarter. Fortem Financial Group LLC now owns 7,656 shares of the software company’s stock worth $2,109,000 after buying an additional 2,411 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Autodesk by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 117,626 shares of the software company’s stock worth $32,404,000 after buying an additional 622 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Autodesk by 8.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company’s stock worth $1,275,000 after purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds 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.