Autodesk (NASDAQ:ADSK) Announces Quarterly Earnings Results

Autodesk (NASDAQ:ADSKGet Rating) issued its earnings results on Tuesday. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70, Yahoo Finance reports. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Autodesk had a net margin of 12.64% and a return on equity of 113.63%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share.

Autodesk Price Performance

Shares of NASDAQ:ADSK traded down $11.83 during midday trading on Thursday, reaching $197.07. 6,274,813 shares of the company were exchanged, compared to its average volume of 1,730,194. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. The business’s fifty day moving average is $201.56 and its two-hundred day moving average is $198.86. Autodesk has a one year low of $163.20 and a one year high of $285.38. The stock has a market cap of $42.54 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.49.

Analyst Upgrades and Downgrades

ADSK has been the subject of several recent analyst reports. Wolfe Research started coverage on shares of Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Autodesk from $255.00 to $225.00 in a report on Wednesday. KeyCorp decreased their price objective on shares of Autodesk from $264.00 to $237.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Autodesk from $270.00 to $220.00 in a report on Wednesday. Finally, Mizuho cut shares of Autodesk from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $210.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.19.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently bought and sold shares of the business. First Manhattan Co. raised its stake in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after acquiring an additional 120 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Autodesk in the first quarter valued at $36,000. Covestor Ltd raised its stake in shares of Autodesk by 71.6% in the first quarter. Covestor Ltd now owns 508 shares of the software company’s stock valued at $109,000 after acquiring an additional 212 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Autodesk by 23.4% in the first quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company’s stock valued at $118,000 after acquiring an additional 104 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in shares of Autodesk by 8.7% in the first quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Autodesk Company Profile

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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.

See Also

Earnings History for Autodesk (NASDAQ:ADSK)

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