StockNews.com downgrades Autodesk (NASDAQ:ADSK) to hold


Autodesk (NASDAQ: ADSK – Get an Assessment) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report released Wednesday to clients and investors.

A number of other equity research analysts have also recently commented on the stock. Griffin Securities cut its price target on Autodesk shares from $340.00 to $300.00 and set a “buy” rating for the company in a Friday, Feb. 25 research report. OTR Global upgraded Autodesk shares to a “positive” rating in a Thursday, May 5, research note. KeyCorp cut its price target on Autodesk shares from $300.00 to $260.00 and set an “overweight” rating on the stock in a Friday, Feb. 25 research note. Goldman Sachs Group reiterated a “sell” rating and issued a price target of $220.00 (from $250.00 previously) on Autodesk shares in a Tuesday, March 8 research note. Finally, Argus lowered its price target on Autodesk shares from $360.00 to $290.00 in a Monday, February 28 research report. Two equity research analysts gave the stock a sell rating, four gave the stock a hold rating and fifteen gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $268.75.

The NASDAQ ADSK opened Wednesday at $179.55. The company has a debt ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $39.10 billion, a PE ratio of 80.52 and a beta of 1.44. Autodesk has a 1-year minimum of $173.90 and a 1-year maximum of $344.39. The company’s 50-day moving average is $199.74 and its 200-day moving average is $236.62.

Autodesk (NASDAQ:ADSK – Get Rating) last released its quarterly earnings data on Thursday, February 24. The software company reported EPS of $0.98 for the quarter, beating the consensus estimate of $0.91 by $0.07. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company posted revenue of $1.21 billion in the quarter, compared to analysts’ estimates of $1.20 billion. During the same period last year, the company posted earnings per share of $0.80. Autodesk’s quarterly revenue increased 16.6% compared to the same quarter last year. As a group, equity research analysts expect Autodesk to post earnings per share of 4.25 for the current year.

In other Autodesk news, Chief Financial Officer Deborah Clifford sold 1,820 shares of the company in a trade that took place on Monday, March 28. The stock was sold at an average price of $212.30, for a total transaction of $386,386.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CAO Stephen W. Hope sold 1,626 shares in a trade dated Monday, March 28. The stock was sold at an average price of $212.30, for a total transaction of $345,199.80. The disclosure of this sale can be found here. Insiders have sold 7,458 shares of the company worth $1,545,628 over the past three months. Company insiders hold 0.11% of the company’s shares.

Several large investors have recently increased or reduced their stake in the stock. Advisory Services Network LLC increased its position in Autodesk shares by 72.8% in the first quarter. Advisory Services Network LLC now owns 4,829 shares of the software company valued at $1,036,000 after acquiring 2,035 additional shares during the period. Sawtooth Solutions LLC increased its position in Autodesk shares by 13.9% during the first quarter. Sawtooth Solutions LLC now owns 3,581 shares of the software company worth $768,000 after buying 437 additional shares in the last quarter. EP Wealth Advisors LLC increased its position in Autodesk by 39.2% in Q1. EP Wealth Advisors LLC now owns 1,901 shares of the software company valued at $407,000 after buying an additional 535 shares last quarter. Toroso Investments LLC increased its position in Autodesk shares by 11.6% during the first quarter. Toroso Investments LLC now owns 8,843 shares of the software company worth $1,895,000 after buying 919 additional shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in Autodesk by 32.6% during the first quarter. Orion Portfolio Solutions LLC now owns 26,932 shares of the software company worth $5,773,000 after purchasing an additional 6,615 shares in the last quarter. 89.55% of the shares are held by institutional investors and hedge funds.

About Autodesk (Get a 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, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.

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