Autodesk (NASDAQ:ADSK) Now Covered by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $350.00 price target on the software company’s stock. UBS Group’s price target points to a potential upside of 19.90% from the company’s current price.

Several other analysts have also recently issued reports on the company. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective on the stock. KeyCorp lifted their price objective on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Piper Sandler upped their target price on shares of Autodesk from $257.00 to $311.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Rosenblatt Securities lifted their price target on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Citigroup increased their price objective on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $316.68.

Autodesk Stock Performance

Shares of Autodesk stock opened at $291.90 on Monday. The stock has a market capitalization of $62.76 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The business has a 50-day moving average of $289.93 and a 200 day moving average of $258.15. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk will post 5.79 earnings per share for the current year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock valued at $549,333 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Livelsberger Financial Advisory purchased a new position in Autodesk in the 3rd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk in the 3rd quarter worth $28,000. Concord Wealth Partners purchased a new stake in shares of Autodesk in the third quarter valued at about $28,000. Olistico Wealth LLC acquired a new position in shares of Autodesk during the second quarter worth about $26,000. Finally, Pacifica Partners Inc. raised its holdings in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.