“We believe this report should be viewed as neutral to positive for ADSK; while the overall ABI index ticked down m/m, recent readings indicate that architecture firm billings have now increased for 5 consecutive months, and 11 months of the last year. As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~42% of revenue coming from its Architecture, Engineering, and Construction segment in FY18.”,” the firm’s analyst commented.
ADSK has been the topic of several other research reports. Oppenheimer upped their price objective on Autodesk from $135.00 to $145.00 and gave the company an outperform rating in a research note on Wednesday, March 7th. Morgan Stanley increased their target price on Autodesk from $120.00 to $143.00 and gave the stock an overweight rating in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. restated a buy rating and set a $130.00 target price on shares of Autodesk in a research report on Wednesday, November 29th. Zacks Investment Research downgraded Autodesk from a hold rating to a sell rating in a research report on Monday, January 29th. Finally, BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a research report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $140.48.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, March 6th. The software company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. The business had revenue of $554.00 million for the quarter, compared to the consensus estimate of $544.74 million. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Autodesk’s revenue for the quarter was up 15.7% on a year-over-year basis. equities analysts expect that Autodesk will post -0.03 EPS for the current year.
In other news, VP Paul D. Underwood sold 572 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $136.33, for a total value of $77,980.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Crawford W. Beveridge sold 1,500 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $133.11, for a total transaction of $199,665.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,171 shares of company stock worth $1,822,299. Insiders own 6.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its stake in Autodesk by 16.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 29,394 shares of the software company’s stock valued at $3,081,000 after acquiring an additional 4,173 shares during the last quarter. Delek Group Ltd. bought a new position in Autodesk in the fourth quarter valued at $132,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Autodesk by 59.4% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,465 shares of the software company’s stock valued at $1,097,000 after acquiring an additional 3,900 shares during the last quarter. BB&T Investment Services Inc. increased its stake in Autodesk by 29.5% in the fourth quarter. BB&T Investment Services Inc. now owns 11,742 shares of the software company’s stock valued at $1,230,000 after acquiring an additional 2,676 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in Autodesk in the fourth quarter valued at $7,110,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
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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; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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