Autodesk (NASDAQ:ADSK) Downgraded by Sanford C. Bernstein

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Sanford C. Bernstein lowered shares of Autodesk (NASDAQ:ADSK) from an outperform rating to a market perform rating in a research note issued to investors on Monday, BenzingaRatingsTable reports. Sanford C. Bernstein currently has $197.00 price target on the software company’s stock, up from their previous price target of $189.00.

Other research analysts have also recently issued research reports about the company. Wedbush lifted their price objective on Autodesk from $162.00 to $171.00 and gave the company a neutral rating in a research note on Wednesday, November 27th. Barclays lifted their price objective on Autodesk from $173.00 to $195.00 and gave the company an overweight rating in a research note on Wednesday, November 27th. Mizuho lifted their price objective on Autodesk from $190.00 to $195.00 and gave the company an outperform rating in a research note on Wednesday, November 27th. Wells Fargo & Co reiterated a buy rating on shares of Autodesk in a research note on Monday, December 9th. Finally, BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $185.50.

ADSK opened at $190.79 on Monday. The stock has a market cap of $42.05 billion, a PE ratio of 1,734.45, a PEG ratio of 3.43 and a beta of 1.89. The business has a 50 day moving average of $183.47 and a 200-day moving average of $161.49. Autodesk has a 52 week low of $129.70 and a 52 week high of $193.42.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $842.70 million during the quarter, compared to analysts’ expectations of $823.95 million. Autodesk had a negative return on equity of 113.06% and a net margin of 4.74%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. Sell-side analysts predict that Autodesk will post 1.47 EPS for the current fiscal year.

In other Autodesk news, SVP Carmel Galvin sold 4,994 shares of Autodesk stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $185.00, for a total value of $923,890.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Autodesk by 0.4% in the 3rd quarter. State Street Corp now owns 8,656,573 shares of the software company’s stock worth $1,278,576,000 after purchasing an additional 36,322 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Autodesk by 2.3% in the 2nd quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock worth $498,585,000 after purchasing an additional 67,647 shares in the last quarter. Findlay Park Partners LLP increased its holdings in shares of Autodesk by 18.1% in the 3rd quarter. Findlay Park Partners LLP now owns 2,346,803 shares of the software company’s stock worth $346,623,000 after purchasing an additional 360,000 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Autodesk by 13.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,157,065 shares of the software company’s stock worth $318,599,000 after purchasing an additional 259,695 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Autodesk by 489.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,152,889 shares of the software company’s stock worth $187,805,000 after purchasing an additional 957,445 shares in the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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