Autodesk’s (ADSK) Neutral Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of Autodesk (NASDAQ:ADSK) in a research report released on Thursday, March 21st, RTT News reports. The firm currently has a $163.00 target price on the software company’s stock.

Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Autodesk from a hold rating to a sell rating in a research report on Wednesday, January 23rd. Griffin Securities reissued a buy rating and issued a $188.00 price target (up from $175.00) on shares of Autodesk in a research note on Friday, March 1st. BidaskClub downgraded shares of Autodesk from a buy rating to a hold rating in a research note on Tuesday, March 5th. Credit Suisse Group lifted their target price on shares of Autodesk from $160.00 to $175.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Finally, UBS Group lifted their target price on shares of Autodesk to $91.00 and gave the stock an underweight rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $172.51.

Shares of NASDAQ:ADSK traded up $0.90 during midday trading on Thursday, reaching $172.77. The company’s stock had a trading volume of 984,500 shares, compared to its average volume of 1,823,575. The firm has a market capitalization of $37.79 billion, a P/E ratio of 1,570.64, a PEG ratio of 2.56 and a beta of 1.92. Autodesk has a twelve month low of $117.72 and a twelve month high of $173.44.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $737.30 million for the quarter, compared to analyst estimates of $707.09 million. During the same quarter in the prior year, the business posted ($0.09) EPS. Equities research analysts forecast that Autodesk will post 1.76 EPS for the current fiscal year.

In other news, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $152.90, for a total transaction of $152,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Steven M. Blum sold 16,838 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $168.68, for a total transaction of $2,840,233.84. The disclosure for this sale can be found here. Insiders have sold a total of 65,227 shares of company stock valued at $10,573,716 in the last quarter. 0.14% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its position in Autodesk by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 22,839,276 shares of the software company’s stock valued at $3,565,439,000 after purchasing an additional 128,028 shares during the last quarter. BlackRock Inc. raised its position in Autodesk by 0.8% in the 4th quarter. BlackRock Inc. now owns 17,305,793 shares of the software company’s stock valued at $2,225,700,000 after purchasing an additional 132,973 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Autodesk by 1.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 11,036,081 shares of the software company’s stock worth $1,722,843,000 after buying an additional 173,531 shares during the last quarter. Capital Research Global Investors raised its position in Autodesk by 3.0% during the 3rd quarter. Capital Research Global Investors now owns 6,673,349 shares of the software company’s stock worth $1,041,777,000 after buying an additional 195,972 shares during the last quarter. Finally, Capital World Investors raised its position in Autodesk by 214.7% during the 3rd quarter. Capital World Investors now owns 5,079,079 shares of the software company’s stock worth $792,895,000 after buying an additional 3,465,109 shares during the last quarter. Hedge funds and other institutional investors own 95.38% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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