Barclays Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK - Get Free Report) had its price objective hoisted by equities researchers at Barclays from $310.00 to $355.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the software company's stock. Barclays's target price suggests a potential upside of 18.67% from the company's previous close.

ADSK has been the subject of several other research reports. The Goldman Sachs Group upgraded shares of Autodesk from a "sell" rating to a "neutral" rating and upped their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the company a "market perform" rating in a report on Friday, August 30th. HSBC upgraded Autodesk from a "hold" rating to a "buy" rating and raised their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Bank of America boosted their price objective on Autodesk from $260.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.20.

Autodesk Stock Down 2.4 %

Shares of Autodesk stock traded down $7.50 during trading on Friday, hitting $299.15. 2,300,081 shares of the stock were exchanged, compared to its average volume of 1,579,473. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm's 50-day moving average price is $280.34 and its 200 day moving average price is $250.66. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 61.08, a price-to-earnings-growth ratio of 4.00 and a beta of 1.47. Autodesk has a 12-month low of $195.32 and a 12-month high of $315.73.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the firm posted $1.12 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,730 shares of company stock valued at $5,064,430 in the last three months. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Goodman Advisory Group LLC increased its stake in shares of Autodesk by 10.0% during the 3rd quarter. Goodman Advisory Group LLC now owns 13,915 shares of the software company's stock worth $3,833,000 after purchasing an additional 1,262 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Autodesk by 2.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 357,581 shares of the software company's stock worth $98,506,000 after buying an additional 9,361 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of Autodesk by 9.5% in the third quarter. Continuum Advisory LLC now owns 704 shares of the software company's stock worth $194,000 after acquiring an additional 61 shares during the last quarter. Drucker Wealth 3.0 LLC raised its holdings in shares of Autodesk by 4.9% in the third quarter. Drucker Wealth 3.0 LLC now owns 3,626 shares of the software company's stock worth $999,000 after acquiring an additional 169 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Autodesk by 7.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 90,270 shares of the software company's stock valued at $24,868,000 after acquiring an additional 6,489 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Company Profile

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.