Autodesk (NASDAQ:ADSK) Price Target Raised to $200.00 at Argus

Autodesk (NASDAQ:ADSK) had its price target increased by Argus to $200.00 in a report published on Tuesday, The Fly reports. Argus currently has a buy rating on the software company’s stock.

Several other equities research analysts also recently commented on ADSK. Royal Bank of Canada upped their price objective on shares of Autodesk from $175.00 to $189.00 and gave the company a buy rating in a report on Wednesday, November 27th. Canaccord Genuity lifted their price target on Autodesk from $160.00 to $195.00 and gave the company a buy rating in a research report on Wednesday, November 27th. ValuEngine lowered Autodesk from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Deutsche Bank cut Autodesk from a buy rating to a hold rating and dropped their price objective for the stock from $180.00 to $165.00 in a report on Thursday, August 15th. Finally, Stifel Nicolaus raised their target price on Autodesk from $160.00 to $190.00 and gave the stock an in-line rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $179.48.

NASDAQ:ADSK opened at $175.40 on Tuesday. Autodesk has a 12 month low of $117.72 and a 12 month high of $181.35. The firm’s 50 day moving average is $156.65 and its 200 day moving average is $157.37. The stock has a market capitalization of $39.72 billion, a PE ratio of 1,594.55, a price-to-earnings-growth ratio of 3.17 and a beta of 1.90.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $842.70 million during the quarter, compared to analyst estimates of $823.95 million. Autodesk had a negative return on equity of 113.06% and a net margin of 4.74%. Autodesk’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, sell-side analysts anticipate that Autodesk will post 1.5 EPS for the current year.

In other Autodesk news, CAO Stephen W. Hope sold 263 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.02, for a total value of $39,718.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 1,154 shares of company stock worth $175,163 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ADSK. Park Avenue Securities LLC lifted its holdings in shares of Autodesk by 4.7% during the 2nd quarter. Park Avenue Securities LLC now owns 1,549 shares of the software company’s stock worth $252,000 after acquiring an additional 69 shares during the last quarter. Berkeley Capital Partners LLC lifted its stake in Autodesk by 1.8% during the second quarter. Berkeley Capital Partners LLC now owns 3,817 shares of the software company’s stock worth $622,000 after purchasing an additional 69 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Autodesk by 2.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the software company’s stock worth $494,000 after purchasing an additional 70 shares in the last quarter. World Asset Management Inc boosted its holdings in shares of Autodesk by 0.5% in the 3rd quarter. World Asset Management Inc now owns 14,401 shares of the software company’s stock worth $2,127,000 after purchasing an additional 71 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Autodesk by 45.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 233 shares of the software company’s stock valued at $34,000 after purchasing an additional 73 shares during the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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