Congress Asset Management Co. Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Congress Asset Management Co. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,592 shares of the software company's stock after selling 912 shares during the period. Congress Asset Management Co.'s holdings in Autodesk were worth $2,244,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC grew its stake in shares of Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after acquiring an additional 35 shares during the last quarter. Y.D. More Investments Ltd grew its stake in shares of Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after acquiring an additional 35 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company's stock worth $130,000 after acquiring an additional 37 shares during the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock worth $247,000 after acquiring an additional 37 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Autodesk by 11.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company's stock worth $106,000 after acquiring an additional 38 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

ADSK traded down $6.02 during midday trading on Friday, reaching $285.00. The company had a trading volume of 1,670,110 shares, compared to its average volume of 1,382,891. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $298.25 and a two-hundred day moving average of $285.27. The company has a market cap of $61.28 billion, a P/E ratio of 56.55, a P/E/G ratio of 3.08 and a beta of 1.43. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter last year, the business posted $1.33 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. BMO Capital Markets upped their price target on Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Scotiabank assumed coverage on Autodesk in a report on Monday, November 18th. They set a "sector outperform" rating and a $360.00 price target on the stock. HSBC downgraded Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. Finally, Oppenheimer upped their price target on Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $334.45.

About Autodesk

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.