Piper Sandler Upgrades Autodesk (NASDAQ:ADSK) to “Overweight”

Piper Sandler upgraded shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an overweight rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $357.00 target price on the software company’s stock, up from their prior target price of $311.00.

A number of other research firms have also recently issued reports on ADSK. DA Davidson started coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective on the stock. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research report on Friday, November 29th. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.05.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $296.37 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $63.72 billion, a PE ratio of 58.80, a PEG ratio of 3.62 and a beta of 1.42. The company’s fifty day moving average is $301.19 and its 200 day moving average is $273.37. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last issued 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. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. Research analysts anticipate that Autodesk will post 5.76 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the 3rd quarter valued at about $27,000. Concord Wealth Partners bought a new stake in shares of Autodesk during the 3rd quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $28,000. Central Pacific Bank Trust Division purchased a new stake in Autodesk in the 4th quarter worth $37,000. Finally, Wolff Wiese Magana LLC raised its holdings in Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after acquiring an additional 145 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.