Autodesk (NASDAQ:ADSK) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Autodesk (NASDAQ:ADSK - Free Report) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.

Several other equities analysts also recently commented on ADSK. The Goldman Sachs Group upgraded shares of Autodesk from a sell rating to a neutral rating and upped their price target for the company from $225.00 to $295.00 in a research note on Tuesday. Citigroup increased their target price on shares of Autodesk from $316.00 to $325.00 and gave the stock a buy rating in a research report on Tuesday. Rosenblatt Securities lifted their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a buy rating in a research report on Friday, August 30th. Oppenheimer boosted their price target on Autodesk from $275.00 to $300.00 and gave the company an outperform rating in a research note on Friday, August 30th. Finally, Barclays raised their price objective on Autodesk from $275.00 to $310.00 and gave the stock an overweight rating in a research note on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of Moderate Buy and an average target price of $292.17.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $2.04 on Tuesday, hitting $255.79. The company had a trading volume of 1,472,466 shares, compared to its average volume of 1,658,669. The stock has a market cap of $55.13 billion, a price-to-earnings ratio of 55.37, a P/E/G ratio of 3.45 and a beta of 1.48. The stock has a 50 day moving average price of $246.91 and a 200 day moving average price of $239.18. Autodesk has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. Autodesk's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 EPS. Analysts expect that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the firm's stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at $4,616,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the company's stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares of the company's stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock worth $14,220,661 in the last three months. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC grew its position in shares of Autodesk by 21.5% in the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company's stock valued at $58,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company's stock valued at $959,000 after acquiring an additional 44 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company's stock valued at $228,000 after purchasing an additional 45 shares during the period. Beacon Financial Group raised its holdings in Autodesk by 4.1% during the 4th quarter. Beacon Financial Group now owns 1,248 shares of the software company's stock worth $304,000 after purchasing an additional 49 shares during the last quarter. Finally, First Affirmative Financial Network lifted its position in shares of Autodesk by 2.8% in the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company's stock worth $469,000 after purchasing an additional 49 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.