UBS Group Begins Coverage on Autodesk (NASDAQ:ADSK)

Stock analysts at UBS Group began coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued to clients and investors 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 objective would indicate a potential upside of 19.90% from the stock’s previous close.

A number of other research firms have also recently commented on ADSK. Scotiabank assumed coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Barclays raised their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada upped their target price on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Finally, KeyCorp upped their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $316.68.

Autodesk Stock Up 0.4 %

Shares of ADSK stock opened at $291.90 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The stock has a 50 day moving average of $289.93 and a 200 day moving average of $258.15. The stock has a market cap of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Autodesk will post 5.79 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new stake in shares of Autodesk during the 2nd quarter worth about $26,000. Pacifica Partners Inc. boosted its stake 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 buying an additional 50 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the third quarter valued at about $27,000. Concord Wealth Partners purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $28,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors 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.