Autodesk’s (ADSK) Buy Rating Reiterated at Argus

Argus reaffirmed their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $355.00 target price on the software company’s stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley decreased their price target on Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Robert W. Baird lifted their price objective on shares of Autodesk from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Berenberg Bank set a $333.00 price objective on shares of Autodesk in a report on Tuesday. UBS Group increased their target price on shares of Autodesk from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Rothschild & Co Redburn lowered their target price on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $321.19.

Autodesk Stock Performance

ADSK opened at $217.90 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $230.90 and its 200-day moving average is $232.50. The stock has a market cap of $45.54 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. Autodesk has a twelve month low of $185.50 and a twelve month high of $329.09.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.18. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, analysts predict that Autodesk will post 9.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Cahill acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the acquisition, the director directly owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Janesh Moorjani bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently made changes to their positions in the business. Quantinno Capital Management LP grew its holdings in shares of Autodesk by 17.8% in the 1st quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock worth $92,306,000 after acquiring an additional 58,285 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Autodesk by 158.4% during the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after purchasing an additional 167,064 shares during the period. Man Group plc lifted its holdings in shares of Autodesk by 28.6% during the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock valued at $364,076,000 after purchasing an additional 273,765 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Autodesk during the second quarter valued at $322,851,000. Finally, Seilern Investment Management Ltd boosted its position in shares of Autodesk by 11.0% in the 2nd quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock valued at $44,265,000 after purchasing an additional 22,547 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.