Autodesk (NASDAQ:ADSK) Given New $345.00 Price Target at Robert W. Baird

Autodesk (NASDAQ:ADSK - Free Report) had its target price increased by Robert W. Baird from $330.00 to $345.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software company's stock.

Several other brokerages have also recently issued reports on ADSK. Citigroup upped their price objective on shares of Autodesk from $358.00 to $361.00 and gave the company a "buy" rating in a research note on Friday, November 29th. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. UBS Group started coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a "buy" rating and a $350.00 price target for the company. Barclays increased their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, KeyCorp increased their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $334.45.

Autodesk Price Performance

ADSK stock traded down $6.02 during midday trading on Wednesday, reaching $285.00. The stock had a trading volume of 1,591,417 shares, compared to its average volume of 1,361,411. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company's fifty day simple moving average is $298.62 and its 200 day simple moving average is $284.86. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 56.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) 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 company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Autodesk's revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Several large investors have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC lifted its holdings in Autodesk by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after buying an additional 35 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust lifted its holdings in Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company's stock worth $130,000 after buying an additional 37 shares in the last quarter. Journey Strategic Wealth LLC lifted its holdings in Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock worth $247,000 after buying an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Autodesk by 11.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company's stock worth $106,000 after buying an additional 38 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.