Autodesk (NASDAQ:ADSK) Posts Earnings Results, Beats Estimates By $0.09 EPS

Autodesk (NASDAQ:ADSK – Get Rating) issued its earnings results on Thursday. The software company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09, RTT News reports. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year.

Shares of ADSK stock opened at $191.63 on Friday. The business’s fifty day moving average price is $198.81 and its 200 day moving average price is $235.31. The firm has a market capitalization of $41.73 billion, a PE ratio of 85.93 and a beta of 1.44. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a 1-year low of $173.90 and a 1-year high of $344.39.

In other Autodesk news, CAO Stephen W. Hope sold 1,626 shares of the company’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $212.30, for a total value of $345,199.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Deborah Clifford sold 1,820 shares of Autodesk stock in a transaction on Monday, March 28th. The stock was sold at an average price of $212.30, for a total value of $386,386.00. The disclosure for this sale can be found here. Insiders sold 7,458 shares of company stock valued at $1,545,628 in the last quarter. 0.11% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its position in shares of Autodesk by 1.7% in the first quarter. Northern Trust Corp now owns 2,835,207 shares of the software company’s stock valued at $607,727,000 after purchasing an additional 47,952 shares during the last quarter. Wellington Management Group LLP increased its position in Autodesk by 0.4% during the first quarter. Wellington Management Group LLP now owns 1,934,110 shares of the software company’s stock worth $414,577,000 after buying an additional 7,454 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Autodesk by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,079,675 shares of the software company’s stock valued at $231,429,000 after acquiring an additional 24,831 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Autodesk by 18.9% during the first quarter. Invesco Ltd. now owns 1,005,551 shares of the software company’s stock valued at $215,538,000 after acquiring an additional 159,898 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Autodesk by 64.4% during the 1st quarter. Lazard Asset Management LLC now owns 579,794 shares of the software company’s stock worth $124,277,000 after purchasing an additional 227,098 shares in the last quarter. Institutional investors own 89.55% of the company’s stock.

ADSK has been the topic of a number of analyst reports. Citigroup decreased their price objective on shares of Autodesk from $264.00 to $258.00 in a research report on Friday. Royal Bank of Canada dropped their price objective on Autodesk from $295.00 to $255.00 in a report on Monday. Deutsche Bank Aktiengesellschaft downgraded Autodesk from a “buy” rating to a “hold” rating and lowered their price target for the company from $275.00 to $225.00 in a report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Autodesk from $355.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Finally, StockNews.com lowered shares of Autodesk from a “buy” rating to a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $264.70.

About Autodesk (Get Rating)

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.

Recommended Stories