Autodesk, Inc. (ADSK) Lifted to “Buy” at Guggenheim

Guggenheim upgraded shares of Autodesk, Inc. (NASDAQ:ADSK) from a neutral rating to a buy rating in a research note issued to investors on Monday morning. The brokerage currently has $150.00 target price on the software company’s stock.

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Autodesk from a strong-buy rating to a buy rating in a report on Friday, August 11th. Evercore ISI reaffirmed a buy rating and issued a $135.00 price objective on shares of Autodesk in a report on Wednesday, September 20th. Cowen and Company reaffirmed a buy rating and issued a $115.00 price objective on shares of Autodesk in a report on Friday, August 18th. Barclays PLC raised their price objective on shares of Autodesk from $114.00 to $120.00 and gave the stock an overweight rating in a report on Friday, August 18th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $120.00 price objective (up from $115.00) on shares of Autodesk in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Autodesk currently has an average rating of Buy and an average target price of $123.16.

Autodesk (ADSK) traded up $0.15 during trading on Monday, hitting $124.02. 1,442,000 shares of the stock were exchanged, compared to its average volume of 2,001,556. Autodesk has a 1 year low of $68.06 and a 1 year high of $126.44. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The firm had revenue of $501.80 million during the quarter, compared to the consensus estimate of $493.98 million. During the same period in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. equities analysts expect that Autodesk will post -1.38 EPS for the current fiscal year.

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In related news, SVP Fronzo Pascal W. Di sold 580 shares of Autodesk stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $110.91, for a total value of $64,327.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Crawford W. Beveridge sold 1,500 shares of Autodesk stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $112.82, for a total transaction of $169,230.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,789 shares of company stock worth $9,189,363. 6.10% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Autodesk by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock worth $2,058,545,000 after purchasing an additional 466,724 shares during the period. BlackRock Inc. raised its position in Autodesk by 4.8% in the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock worth $1,612,787,000 after purchasing an additional 735,647 shares during the period. American Century Companies Inc. raised its position in Autodesk by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock worth $341,660,000 after purchasing an additional 364,994 shares during the period. Franklin Resources Inc. grew its holdings in Autodesk by 18.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock worth $281,589,000 after acquiring an additional 436,261 shares during the last quarter. Finally, Fred Alger Management Inc. grew its holdings in Autodesk by 52.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock worth $243,405,000 after acquiring an additional 829,021 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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