Rhumbline Advisers cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 403,779 shares of the software company's stock after selling 6,802 shares during the quarter. Rhumbline Advisers owned 0.19% of Autodesk worth $119,345,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of ADSK. State Street Corp raised its stake in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company's stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC raised its position in Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company's stock valued at $1,557,454,000 after purchasing an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company's stock valued at $657,292,000 after buying an additional 61,785 shares during the period. Principal Financial Group Inc. lifted its position in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP purchased a new position in Autodesk in the 3rd quarter valued at approximately $510,189,000. Hedge funds and other institutional investors own 90.24% of the company's stock.
Autodesk Stock Performance
Shares of ADSK traded up $3.40 during mid-day trading on Wednesday, reaching $299.06. The company's stock had a trading volume of 1,549,337 shares, compared to its average volume of 1,366,076. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The business has a 50-day simple moving average of $299.16 and a two-hundred day simple moving average of $284.71. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $64.30 billion, a P/E ratio of 59.34, a PEG ratio of 3.12 and a beta of 1.43.
Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. As a group, equities research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have weighed in on ADSK shares. BMO Capital Markets raised their price target on Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a research note on Wednesday, November 27th. HSBC downgraded shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $334.45.
Read Our Latest Stock Analysis on ADSK
Autodesk Company Profile
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Free Report)
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.
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