Autodesk (NASDAQ:ADSK) Cut to Hold at Hsbc Global Res

Autodesk (NASDAQ:ADSK) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on ADSK. Citigroup raised their price target on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson assumed coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. Mizuho boosted their target price on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday. Rosenblatt Securities increased their price target on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.10.

Autodesk Stock Performance

Shares of ADSK opened at $291.90 on Friday. The company has a market capitalization of $62.76 billion, a PE ratio of 57.92, a PEG ratio of 3.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The company’s 50 day moving average price is $289.93 and its 200 day moving average price is $257.59. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company posted $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. Research analysts expect that Autodesk will post 5.74 EPS for the current fiscal year.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

A number of institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Autodesk during the first quarter worth $26,000. Olistico Wealth LLC acquired a new position in shares of Autodesk in the 2nd quarter valued at $26,000. Pacifica Partners Inc. lifted its holdings in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the 3rd quarter valued at about $27,000. Finally, Concord Wealth Partners bought a new stake in Autodesk in the third quarter valued at about $28,000. 90.24% of the stock is currently owned by institutional investors.

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.