Autodesk, Inc. (ADSK) Upgraded to “Buy” at Guggenheim

Guggenheim upgraded shares of Autodesk, Inc. (NASDAQ:ADSK) from a neutral rating to a buy rating in a research note released on Monday morning. Guggenheim currently has $150.00 price target on the software company’s stock.

ADSK has been the topic of a number of other research reports. Zacks Investment Research lowered Autodesk from a hold rating to a sell rating in a report on Tuesday, July 18th. Evercore ISI set a $135.00 price objective on Autodesk and gave the company a buy rating in a report on Wednesday, October 18th. Canaccord Genuity reissued a buy rating and set a $125.00 price objective (up previously from $120.00) on shares of Autodesk in a report on Friday, August 25th. KeyCorp reissued a buy rating and set a $128.00 price objective on shares of Autodesk in a report on Friday, October 6th. Finally, Robert W. Baird set a $125.00 price objective on Autodesk and gave the company a buy rating in a report on Sunday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $124.50.

Shares of Autodesk (NASDAQ ADSK) opened at $127.00 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk has a one year low of $68.06 and a one year high of $127.00.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS. sell-side analysts anticipate that Autodesk will post -1.38 earnings per share for the current fiscal year.

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In other news, insider Andrew Anagnost sold 24,004 shares of Autodesk stock in a transaction on Monday, August 28th. The stock was sold at an average price of $112.73, for a total value of $2,705,970.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Crawford W. Beveridge sold 1,500 shares of Autodesk stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total value of $169,230.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,789 shares of company stock valued at $9,189,363. Corporate insiders own 6.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. IFM Investors Pty Ltd acquired a new stake in shares of Autodesk during the third quarter worth $619,000. Insight Capital Research & Management Inc. grew its stake in shares of Autodesk by 96.5% during the third quarter. Insight Capital Research & Management Inc. now owns 23,925 shares of the software company’s stock worth $2,686,000 after purchasing an additional 11,752 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Autodesk by 8.3% during the third quarter. Neuberger Berman Group LLC now owns 1,059,906 shares of the software company’s stock worth $118,985,000 after purchasing an additional 80,942 shares during the period. California Public Employees Retirement System grew its stake in shares of Autodesk by 3.5% during the third quarter. California Public Employees Retirement System now owns 459,320 shares of the software company’s stock worth $51,563,000 after purchasing an additional 15,620 shares during the period. Finally, Patten Group Inc. grew its stake in shares of Autodesk by 595.7% during the third quarter. Patten Group Inc. now owns 35,621 shares of the software company’s stock worth $532,000 after purchasing an additional 30,501 shares during the period. 94.63% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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