Autodesk (NASDAQ:ADSK) Announces Quarterly Earnings Results

Autodesk (NASDAQ:ADSKGet Rating) announced its quarterly earnings data on Tuesday. The software company reported $1.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.70, Yahoo Finance reports. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. Autodesk’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS.

Autodesk Trading Up 1.2 %

NASDAQ:ADSK traded up $2.40 on Tuesday, reaching $208.90. The stock had a trading volume of 2,308,466 shares, compared to its average volume of 1,691,244. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 82.57, a P/E/G ratio of 1.87 and a beta of 1.49. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s fifty day moving average is $201.79 and its two-hundred day moving average is $198.87. Autodesk has a 12-month low of $163.20 and a 12-month high of $310.70.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Autodesk in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 price objective on the stock. StockNews.com started coverage on shares of Autodesk in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price on shares of Autodesk from $257.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday. KeyCorp boosted their target price on shares of Autodesk from $250.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, August 25th. Finally, Mizuho boosted their target price on shares of Autodesk from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.19.

Insider Buying and Selling at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares in the company, valued at approximately $15,922,370.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Mather Group LLC. increased its stake in shares of Autodesk by 34.8% during the 1st quarter. Mather Group LLC. now owns 1,364 shares of the software company’s stock valued at $292,000 after acquiring an additional 352 shares during the last quarter. Colony Group LLC acquired a new position in shares of Autodesk during the 3rd quarter valued at about $252,000. Walleye Capital LLC acquired a new position in shares of Autodesk during the 1st quarter valued at about $249,000. Penserra Capital Management LLC increased its stake in shares of Autodesk by 8.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,154 shares of the software company’s stock valued at $246,000 after acquiring an additional 91 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of Autodesk during the 1st quarter valued at about $218,000. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Earnings History for Autodesk (NASDAQ:ADSK)

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