Harvey Capital Management Inc. Has $5.42 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Harvey Capital Management Inc. lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,343 shares of the software company's stock after selling 3,441 shares during the quarter. Autodesk makes up approximately 1.3% of Harvey Capital Management Inc.'s holdings, making the stock its 24th biggest holding. Harvey Capital Management Inc.'s holdings in Autodesk were worth $5,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Davidson Capital Management Inc. lifted its position in Autodesk by 2.7% during the 4th quarter. Davidson Capital Management Inc. now owns 13,369 shares of the software company's stock valued at $3,951,000 after purchasing an additional 348 shares during the period. Certuity LLC lifted its position in Autodesk by 10.2% during the 4th quarter. Certuity LLC now owns 1,101 shares of the software company's stock valued at $325,000 after purchasing an additional 102 shares during the period. Panoramic Capital Partners LLC acquired a new position in Autodesk during the 4th quarter valued at about $268,000. Equitable Trust Co. lifted its position in Autodesk by 27.8% during the 4th quarter. Equitable Trust Co. now owns 3,691 shares of the software company's stock valued at $1,091,000 after purchasing an additional 803 shares during the period. Finally, Soltis Investment Advisors LLC lifted its position in Autodesk by 438.2% during the 4th quarter. Soltis Investment Advisors LLC now owns 16,684 shares of the software company's stock valued at $4,931,000 after purchasing an additional 13,584 shares during the period. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Stifel Nicolaus increased their price target on shares of Autodesk from $340.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Oppenheimer increased their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Rosenblatt Securities increased their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a research report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $333.77.

Autodesk Stock Down 0.3 %

Shares of ADSK traded down $0.76 during mid-day trading on Friday, hitting $302.72. 923,969 shares of the company's stock were exchanged, compared to its average volume of 1,270,857. The company has a market cap of $65.08 billion, a PE ratio of 60.06, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a 50-day simple moving average of $299.44 and a 200 day simple moving average of $283.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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

Autodesk Profile

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.