Autodesk (ADSK) Earns “Buy” Rating from Evercore ISI

Evercore ISI reissued their buy rating on shares of Autodesk (NASDAQ:ADSK) in a report released on Wednesday. The firm currently has a $150.00 price objective on the software company’s stock.

“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.

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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.

ADSK stock opened at $128.02 on Wednesday. Autodesk has a 12 month low of $82.70 and a 12 month high of $141.26. The company has a quick ratio of 1.07, a current ratio of 0.88 and a debt-to-equity ratio of -6.20. The company has a market capitalization of $28,945.26, a P/E ratio of -49.43 and a beta of 1.82.

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.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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