Autodesk (NASDAQ:ADSK) Posts Quarterly Earnings Results, Hits Estimates

Autodesk (NASDAQ:ADSKGet Rating) posted its quarterly earnings data on Tuesday. The software company reported $1.70 earnings per share for the quarter, hitting the consensus estimate of $1.70, Yahoo Finance reports. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $197.07 on Thursday. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38. The stock’s 50 day moving average price is $201.79 and its 200-day moving average price is $198.87. The company has a market capitalization of $42.54 billion, a PE ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 34,366 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now owns 76,968 shares in the company, valued at approximately $15,922,370.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in shares of Autodesk by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,235 shares of the software company’s stock worth $2,099,000 after purchasing an additional 431 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Autodesk by 60.4% in the 3rd quarter. Baird Financial Group Inc. now owns 22,074 shares of the software company’s stock worth $4,124,000 after purchasing an additional 8,312 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Autodesk in the 3rd quarter worth approximately $211,000. Colony Group LLC bought a new stake in Autodesk during the 3rd quarter valued at $252,000. Finally, SVB Wealth LLC raised its holdings in Autodesk by 16.1% during the 2nd quarter. SVB Wealth LLC now owns 1,788 shares of the software company’s stock valued at $308,000 after acquiring an additional 248 shares during the period. Institutional investors own 86.44% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the subject of several research reports. Barclays reduced their target price on Autodesk from $275.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday. KeyCorp reduced their target price on Autodesk from $264.00 to $237.00 and set an “overweight” rating for the company in a research note on Wednesday. Moffett Nathanson initiated coverage on Autodesk in a research note on Thursday, September 22nd. They issued a “sell” rating and a $206.00 target price for the company. Wolfe Research initiated coverage on Autodesk in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Autodesk in a research note on Friday, September 16th. They issued a “neutral” rating and a $203.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.57.

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.

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Earnings History for Autodesk (NASDAQ:ADSK)

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