Autodesk (NASDAQ:ADSK) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Autodesk (NASDAQ:ADSK) announced its earnings results on Tuesday. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05, Briefing.com reports. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share.

Autodesk Price Performance

ADSK opened at $317.96 on Wednesday. The business has a fifty day moving average of $288.49 and a 200 day moving average of $256.59. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $68.36 billion, a P/E ratio of 65.02, a PEG ratio of 4.10 and a beta of 1.47.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a document filed 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 shares were sold at an average price of $270.00, for a total value 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 approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the topic of several recent analyst reports. Berenberg Bank lifted their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Robert W. Baird raised their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp raised their price target on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

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.