Robert W. Baird Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective boosted by Robert W. Baird from $305.00 to $330.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the software company’s stock.

ADSK has been the topic of a number of other research reports. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Barclays raised their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho set a $260.00 target price on shares of Autodesk in a research note on Friday, October 18th. Finally, Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.19.

Autodesk Stock Up 1.0 %

ADSK stock opened at $302.05 on Monday. Autodesk has a 12 month low of $195.32 and a 12 month high of $315.73. The company’s 50 day simple moving average is $282.25 and its 200-day simple moving average is $252.44. The firm has a market capitalization of $64.94 billion, a PE ratio of 61.77, a P/E/G ratio of 3.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The company 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%. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. Equities analysts expect that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following 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 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 over the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. FMR LLC grew its position in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the period. Ninety One UK Ltd grew its position in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after buying an additional 61,785 shares during the period. 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.