Autodesk (NASDAQ:ADSK) Given New $308.00 Price Target at BMO Capital Markets

Autodesk (NASDAQ:ADSK) had its price objective upped by BMO Capital Markets from $287.00 to $308.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage currently has a “market perform” rating on the software company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 5.97% from the stock’s previous close.

Other analysts have also issued reports about the stock. KeyCorp boosted their target price on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Mizuho set a $260.00 price objective on shares of Autodesk in a research report on Friday, October 18th. Piper Sandler raised their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Oppenheimer raised their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.38.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $290.64 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a market capitalization of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The firm’s 50-day moving average is $289.44 and its 200 day moving average is $257.07.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock worth $549,333 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jag Capital Management LLC purchased a new position in shares of Autodesk in the third quarter worth about $13,861,000. Cetera Investment Advisers raised its position in Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after buying an additional 38,196 shares during the last quarter. LMR Partners LLP acquired a new stake in Autodesk during the 3rd quarter valued at approximately $12,643,000. Forsta AP Fonden boosted its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after acquiring an additional 73,363 shares during the period. Institutional investors and hedge funds 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.