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Guggenheim Starts Coverage on Autodesk Inc (NDAQ:ADSK) Stock with Neutral Rating

Guggenheim Analyst Rating Change Autodesk Inc. NDAQ:ADSK

Autodesk Inc (NDAQ:ADSK) New Coverage by Guggenheim

Analysts at Guggenheim initiated coverage on shares of Autodesk Inc (NDAQ:ADSK) in a note issued on Friday, 14 April. The financial firm set an Neutral rating on the $18.60B market cap company.

In spite of the new coverage NDAQ:ADSK is currently trading -0.83% lower at $84.91 as of 2:00 PM New York time. Autodesk Inc. shares have [From2] 0% in the last 200 days, while the S&P500 Index has gained 14.38% during the same time period.

Out of 18 brokers covering Autodesk Inc., 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $100 and the lowest is $45 according to Thomson/First Call. The 12-month mean target is $65.06, which means downside potential of 23.38% over the current price.

ADSK Stock Chart

Institutional Ownership

Sachem Head Capital Management Lp had the biggest stake with ownership of 12.89M shares as of q2 2015 for 46.03% of the US long equity exposure. Eminence Capital Lp is another bullish investment professional who is possessing 13.26M shares of Autodesk Inc. or 16.02% of their US long equity exposure. Furthermore, Hmi Capital Llc have 12.66% of their US long equity exposure invested in the company for 1.05M shares. The New York-based fund Blue Ridge Capital L.L.C. revealed it had bought a stake worth about 7.28% of the investment professional’s stock portfolio in Autodesk Inc.. The California-based fund Lateef Investment Management L.P. is also positive about the stock, possessing 8.49M shares or 5.89% of their US long equity exposure.

Autodesk Inc (NDAQ:ADSK) Profile

Autodesk IncAutodesk, Inc. is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E). The Company serves customers in the architecture, engineering and construction; product design and manufacturing; and digital media and entertainment industries.

Autodesk Inc (NDAQ:ADSK) traded down -0.83% on 14 April, hitting $84.91. A total of 1.97 million shares of the company’s stock traded hands. This is down from average of 2.28 million shares. Autodesk Inc. has a 52 week low of $49.82 and a 52 week high of $89.18. The company has a market cap of $18.60 billion and a P/E ratio of 0.

Get the latest Autodesk Inc (NDAQ:ADSK) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Guggenheim Starts Coverage on Autodesk Inc (NDAQ:ADSK) Stock with Neutral Rating appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Guggenheim Starts Coverage on Autodesk Inc (NDAQ:ADSK) Stock with Neutral Rating


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