Autodesk Inc. (ADSK) Updates Q4 Earnings Guidance
Autodesk Inc. (NASDAQ:ADSK) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.39)-(0.32) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.31). The company issued revenue guidance of $460-480 million, compared to the consensus revenue estimate of $488.50 million.
Autodesk Inc. (NASDAQ:ADSK) opened at 75.26 on Wednesday. The company’s 50 day moving average is $72.33 and its 200-day moving average is $64.22. The firm’s market cap is $16.70 billion. Autodesk Inc. has a 52 week low of $41.60 and a 52 week high of $78.58.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 29th. The software company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.06. The company had revenue of $489.60 million for the quarter, compared to the consensus estimate of $476.76 million. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. Autodesk’s revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. Equities analysts expect that Autodesk Inc. will post ($0.60) earnings per share for the current year.
A number of research firms have weighed in on ADSK. Pacific Crest reaffirmed an overweight rating and set a $81.00 price target on shares of Autodesk in a research note on Wednesday, November 23rd. RBC Capital Markets reaffirmed a sector perform rating and set a $64.00 price target (up previously from $60.00) on shares of Autodesk in a research note on Sunday, August 21st. Wedbush increased their price target on shares of Autodesk to $60.00 and gave the stock a neutral rating in a research note on Friday, August 26th. Rosenblatt Securities downgraded shares of Autodesk from a neutral rating to a sell rating in a research note on Tuesday, August 30th. Finally, Zacks Investment Research raised shares of Autodesk from a hold rating to a buy rating and set a $80.00 target price on the stock in a research note on Tuesday, October 4th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $68.42.
In related news, Director Crawford W. Beveridge sold 7,000 shares of Autodesk stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $67.58, for a total value of $473,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 1,500 shares of Autodesk stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $68.91, for a total transaction of $103,365.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
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A number of hedge funds have recently modified their holdings of ADSK. TIAA CREF Investment Management LLC increased its stake in shares of Autodesk by 2.4% in the second quarter. TIAA CREF Investment Management LLC now owns 1,260,862 shares of the software company’s stock valued at $68,263,000 after buying an additional 29,341 shares in the last quarter. FMR LLC increased its stake in Autodesk by 23.8% in the second quarter. FMR LLC now owns 20,026,572 shares of the software company’s stock worth $1,084,239,000 after buying an additional 3,844,505 shares during the period. Credit Suisse AG increased its stake in Autodesk by 32.4% in the second quarter. Credit Suisse AG now owns 424,592 shares of the software company’s stock worth $22,988,000 after buying an additional 103,947 shares during the period. FIL Ltd increased its stake in Autodesk by 13.7% in the second quarter. FIL Ltd now owns 388,958 shares of the software company’s stock worth $21,058,000 after buying an additional 46,749 shares during the period. Finally, Cibc World Markets Corp increased its stake in Autodesk by 12.0% in the second quarter. Cibc World Markets Corp now owns 15,130 shares of the software company’s stock worth $819,000 after buying an additional 1,620 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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