Autodesk (NASDAQ:ADSK) Given Overweight Rating at Morgan Stanley

by · The Markets Daily

Morgan Stanley reiterated their overweight rating on shares of Autodesk (NASDAQ:ADSK – Free Report) in a research note published on Monday morning, Benzinga reports. They currently have a $320.00 target price on the software company’s stock.

ADSK has been the topic of several other reports. BMO Capital Markets increased their price objective on Autodesk from $254.00 to $287.00 and gave the company a market perform rating in a research note on Friday, August 30th. Berenberg Bank increased their price target on Autodesk from $286.00 to $299.00 and gave the company a hold rating in a research report on Friday, August 30th. DA Davidson began coverage on Autodesk in a research report on Friday, September 27th. They set a neutral rating and a $260.00 price objective for the company. Barclays upped their target price on shares of Autodesk from $275.00 to $310.00 and gave the stock an overweight rating in a research note on Friday, August 30th. Finally, Hsbc Global Res upgraded shares of Autodesk to a strong-buy rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $290.47.

View Our Latest Report on Autodesk

Autodesk Stock Performance

Shares of Autodesk stock opened at $270.17 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $58.22 billion, a price-to-earnings ratio of 58.48, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. The business has a 50-day moving average of $254.08 and a 200 day moving average of $240.36. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK – Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now owns 31,016 shares in the company, valued at $7,857,283.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the transaction, the director now owns 31,016 shares in the company, valued at $7,857,283.28. The disclosure for this sale can be found here. Insiders sold 38,973 shares of company stock worth $10,106,590 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the business. Gilbert & Cook Inc. lifted its position in Autodesk by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock worth $481,000 after acquiring an additional 103 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Autodesk by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 342,100 shares of the software company’s stock worth $83,295,000 after purchasing an additional 2,763 shares during the period. CWA Asset Management Group LLC grew its position in Autodesk by 13.5% in the 4th quarter. CWA Asset Management Group LLC now owns 1,812 shares of the software company’s stock valued at $441,000 after buying an additional 216 shares during the last quarter. NEOS Investment Management LLC increased its stake in Autodesk by 5.1% in the 4th quarter. NEOS Investment Management LLC now owns 10,101 shares of the software company’s stock valued at $2,459,000 after buying an additional 494 shares during the period. Finally, Rafferty Asset Management LLC raised its position in Autodesk by 16.0% during the 4th quarter. Rafferty Asset Management LLC now owns 114,821 shares of the software company’s stock worth $27,957,000 after buying an additional 15,849 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

(Get Free Report)

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.

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