Autodesk (NASDAQ:ADSK) Given New $335.00 Price Target at Bank of America

Autodesk (NASDAQ:ADSK) had its price target raised by Bank of America from $325.00 to $335.00 in a research report report published on Tuesday morning,Benzinga reports. Bank of America currently has a neutral rating on the software company’s stock.

ADSK has been the topic of a number of other research reports. Scotiabank assumed coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. UBS Group started coverage on shares of Autodesk in a research report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Macquarie assumed coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Stock Down 1.2 %

Shares of NASDAQ:ADSK opened at $307.70 on Tuesday. The firm has a 50 day simple moving average of $299.01 and a 200 day simple moving average of $280.66. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $66.16 billion, a PE ratio of 61.05, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. As a group, research analysts expect that Autodesk will post 5.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new position in shares of Autodesk during the fourth quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new position in Autodesk in the 3rd quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in Autodesk in the 3rd quarter valued at approximately $28,000. Tradewinds Capital Management LLC lifted its position in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.