Scotiabank Cuts Autodesk (NASDAQ:ADSK) Price Target to $315.00

Autodesk (NASDAQ:ADSK) had its target price lowered by Scotiabank from $360.00 to $315.00 in a report issued on Monday,Benzinga reports. The firm currently has a sector outperform rating on the software company’s stock.

Several other analysts have also recently commented on the stock. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. DA Davidson increased their price target on shares of Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, February 28th. BMO Capital Markets increased their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, UBS Group increased their price target on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Stock Up 3.2 %

Shares of NASDAQ:ADSK opened at $268.30 on Monday. The stock has a market cap of $57.15 billion, a P/E ratio of 53.23, a P/E/G ratio of 2.94 and a beta of 1.51. The firm has a fifty day moving average price of $286.92 and a 200 day moving average price of $287.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. DSG Capital Advisors LLC acquired a new position in shares of Autodesk during the fourth quarter worth $877,000. 111 Capital bought a new stake in shares of Autodesk in the fourth quarter worth $1,720,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Autodesk by 98.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,604 shares of the software company’s stock worth $9,932,000 after buying an additional 16,665 shares during the last quarter. Siemens Fonds Invest GmbH increased its stake in shares of Autodesk by 6.2% in the fourth quarter. Siemens Fonds Invest GmbH now owns 6,683 shares of the software company’s stock worth $1,988,000 after buying an additional 389 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of Autodesk in the fourth quarter worth $368,000. 90.24% of the stock is owned by institutional investors and hedge funds.

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.