Autodesk (NASDAQ:ADSK) Price Target Cut to $244.00 by Analysts at Robert W. Baird

Autodesk (NASDAQ:ADSKGet Rating) had its price target lowered by Robert W. Baird from $255.00 to $244.00 in a report issued on Wednesday, The Fly reports. Robert W. Baird currently has an outperform rating on the software company’s stock.

ADSK has been the subject of a number of other reports. Mizuho lowered shares of Autodesk from a buy rating to a neutral rating and reduced their price objective for the company from $260.00 to $210.00 in a research note on Wednesday. StockNews.com assumed coverage on shares of Autodesk in a research note on Wednesday, October 12th. They set a buy rating for the company. Rosenblatt Securities reduced their price objective on shares of Autodesk from $285.00 to $270.00 and set a buy rating for the company in a research note on Thursday, August 25th. Citigroup reduced their price objective on shares of Autodesk from $277.00 to $256.00 and set a buy rating for the company in a research note on Friday, November 18th. Finally, Credit Suisse Group reduced their price objective on shares of Autodesk from $355.00 to $325.00 and set an outperform rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $241.57.

Autodesk Stock Down 5.7 %

Shares of Autodesk stock opened at $197.07 on Wednesday. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50-day moving average of $201.79 and a 200 day moving average of $198.87. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 77.89, a PEG ratio of 1.83 and a beta of 1.49. Autodesk has a 1 year low of $163.20 and a 1 year high of $285.38.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. Autodesk’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, sell-side analysts anticipate that Autodesk will post 4.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now owns 76,968 shares of the company’s stock, valued at $15,922,370.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the business. Venture Visionary Partners LLC purchased a new position in Autodesk during the second quarter valued at approximately $30,000. TD Capital Management LLC purchased a new position in Autodesk during the third quarter valued at approximately $30,000. Resources Management Corp CT ADV lifted its holdings in Autodesk by 1,100.0% during the second quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock valued at $31,000 after purchasing an additional 165 shares in the last quarter. CNB Bank lifted its holdings in Autodesk by 107.9% during the second quarter. CNB Bank now owns 185 shares of the software company’s stock valued at $32,000 after purchasing an additional 96 shares in the last quarter. Finally, First Manhattan Co. lifted its holdings in Autodesk by 342.9% during the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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