ICICI Prudential Asset Management Co Ltd Sells 2,074 Shares of Autodesk, Inc. (NASDAQ:ADSK)

ICICI Prudential Asset Management Co Ltd cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,873 shares of the software company's stock after selling 2,074 shares during the quarter. Autodesk comprises 1.1% of ICICI Prudential Asset Management Co Ltd's investment portfolio, making the stock its 18th largest holding. ICICI Prudential Asset Management Co Ltd's holdings in Autodesk were worth $10,012,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADSK. Starboard Value LP bought a new stake in shares of Autodesk during the third quarter valued at approximately $510,189,000. International Assets Investment Management LLC grew its position in Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company's stock valued at $1,564,170,000 after acquiring an additional 566,826 shares during the period. Massachusetts Financial Services Co. MA grew its position in Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company's stock valued at $156,296,000 after acquiring an additional 452,728 shares during the period. Franklin Resources Inc. grew its position in Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company's stock valued at $413,405,000 after acquiring an additional 387,309 shares during the period. Finally, State Street Corp grew its position in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company's stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Down 2.1 %

ADSK stock traded down $6.02 during mid-day trading on Friday, reaching $285.00. The company had a trading volume of 1,591,417 shares, compared to its average volume of 1,361,411. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $298.62 and a two-hundred day simple moving average of $284.86. The company has a market capitalization of $61.28 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 3.08 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Rosenblatt Securities increased their target price on Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. HSBC lowered Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price target on the stock. in a research note on Friday, November 29th. Morgan Stanley upped their price target on Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Bank of America upped 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. Finally, Stifel Nicolaus upped their price target on Autodesk from $340.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $334.45.

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.