Autodesk (NASDAQ:ADSK) Releases Earnings Results, Beats Expectations By $0.09 EPS

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

ADSK opened at $211.38 on Friday. The firm has a 50-day simple moving average of $198.77 and a two-hundred day simple moving average of $234.49. Autodesk has a 52 week low of $173.90 and a 52 week high of $344.39. The company has a market capitalization of $46.03 billion, a PE ratio of 94.79 and a beta of 1.44. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.68.

In other news, CAO Stephen W. Hope sold 1,626 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Deborah Clifford sold 1,820 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $386,386.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,458 shares of company stock valued at $1,545,628 in the last three months. Insiders own 0.11% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in Autodesk by 64.4% in 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 during the period. Invesco Ltd. raised its position in Autodesk by 18.9% in the 1st quarter. Invesco Ltd. now owns 1,005,551 shares of the software company’s stock worth $215,538,000 after purchasing an additional 159,898 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Autodesk in the 1st quarter worth about $27,284,000. Arrowstreet Capital Limited Partnership purchased a new stake in Autodesk in the 1st quarter worth about $22,396,000. Finally, Prudential Financial Inc. raised its position in Autodesk by 29.1% in the 1st quarter. Prudential Financial Inc. now owns 302,189 shares of the software company’s stock worth $64,775,000 after purchasing an additional 68,068 shares during the period. Hedge funds and other institutional investors own 89.55% of the company’s stock.

A number of equities analysts recently issued reports on ADSK shares. OTR Global upgraded shares of Autodesk to a “positive” rating in a research note on Thursday, May 5th. Rosenblatt Securities dropped their price target on shares of Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Citigroup lowered their target price on shares of Autodesk from $264.00 to $258.00 and set a “buy” rating on the stock in a research note on Friday. Mizuho lowered their target price on shares of Autodesk from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Barclays lowered their target price on shares of Autodesk from $230.00 to $216.00 and set an “overweight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $263.10.

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.

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Earnings History for Autodesk (NASDAQ:ADSK)

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