Royal Bank of Canada Reaffirms Outperform Rating for Autodesk (NASDAQ:ADSK)

Royal Bank of Canada reiterated their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a research report released on Wednesday morning, Benzinga reports. They currently have a $260.00 price objective on the software company’s stock.

Several other research analysts have also recently issued reports on the company. KeyCorp dropped their price target on Autodesk from $320.00 to $305.00 and set an overweight rating on the stock in a report on Monday, May 20th. Mizuho dropped their price target on Autodesk from $270.00 to $230.00 and set a neutral rating on the stock in a research note on Tuesday, June 4th. Bank of America decreased their target price on shares of Autodesk from $300.00 to $260.00 and set a neutral rating for the company in a report on Monday, June 3rd. Barclays cut their price target on shares of Autodesk from $310.00 to $275.00 and set an overweight rating on the stock in a report on Wednesday. Finally, Oppenheimer cut their target price on shares of Autodesk from $315.00 to $275.00 and set an outperform rating on the stock in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Autodesk currently has a consensus rating of Hold and a consensus target price of $262.42.

Autodesk Trading Up 1.2 %

Autodesk stock opened at $225.87 on Wednesday. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market capitalization of $48.79 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 2.95 and a beta of 1.43. The firm has a 50 day simple moving average of $218.73 and a 200-day simple moving average of $237.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.75.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Autodesk will post 5.59 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,438 shares of company stock valued at $7,393,778. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. VisionPoint Advisory Group LLC grew its stake in Autodesk by 21.5% in the fourth quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock valued at $58,000 after acquiring an additional 42 shares during the period. Bouvel Investment Partners LLC lifted its holdings in shares of Autodesk by 0.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock valued at $2,864,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC raised its position in Autodesk by 3.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after buying an additional 45 shares during the last quarter. Goodman Advisory Group LLC boosted its position in Autodesk by 0.4% during the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after acquiring an additional 49 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC raised its holdings in shares of Autodesk by 3.7% in the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock valued at $331,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

About Autodesk

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.