Autodesk (ADSK) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 64

Autodesk (ADSK) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 64 from a previous price target of $60 . RBC Capital Mkts advised their investors in a research report released on Aug 19, 2016.

On the company’s financial health, Autodesk reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 19, 2016. Analyst had a consensus of $-0.14. The company had revenue of $511.90 million for the quarter, compared to analysts expectations of $513.00 million. The company’s revenue was down -20.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Autodesk opened for trading at $62.59 and hit $62.846 on the upside on Wednesday, eventually ending the session at $62.79, with a gain of 0.22% or 0.14 points. The heightened volatility saw the trading volume jump to 11,24,239 shares. Company has a market cap of $14,106 M.

In a different news, on Aug 16, 2016, Fronzo Pascal W Di (SVP, General Counsel) sold 10,583 shares at $62.99 per share price. According to the SEC, on Aug 16, 2016, Amarpreet Hanspal (SVP, Autodesk Product Group) sold 19,015 shares at $62.50 per share price. On Jul 14, 2016, Carl Bass (Chief Executive Officer) sold 26,209 shares at $56.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company operates in four segments: Architecture Engineering and Construction (AEC) Platform Solutions and Emerging Business (PSEB) Manufacturing (MFG) and Media and Entertainment (M&E). The PSEB AEC and MFG segments offer a range of services including consulting support and training. The M&E segment offers software products to creative professionals post-production facilities and broadcasters for a variety of applications including feature films television programs commercials music and corporate videos interactive game production Web design and interactive Web streaming.


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