Invesco Ltd. Purchases 191,666 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Invesco Ltd. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,383,255 shares of the software company's stock after buying an additional 191,666 shares during the period. Invesco Ltd. owned 1.11% of Autodesk worth $704,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after acquiring an additional 2,307,960 shares during the period. Norges Bank acquired a new stake in shares of Autodesk during the 4th quarter valued at $632,566,000. Franklin Resources Inc. boosted its stake in shares of Autodesk by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company's stock worth $621,535,000 after acquiring an additional 653,868 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Autodesk during the fourth quarter worth $154,408,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Autodesk during the fourth quarter valued at $116,828,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

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Autodesk Stock Up 0.6 %

Shares of Autodesk stock traded up $1.53 during trading on Friday, reaching $258.45. 1,274,634 shares of the company traded hands, compared to its average volume of 1,696,441. The firm has a market capitalization of $55.05 billion, a PE ratio of 51.28, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a 50 day moving average price of $272.44 and a 200-day moving average price of $287.38. 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, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays cut their price objective on Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday. Scotiabank decreased their price objective on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Morgan Stanley lifted their price objective on shares of Autodesk from $375.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Stifel Nicolaus reduced their target price on Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a report on Thursday. Finally, Citigroup lowered their price target on Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $327.82.

Autodesk Company 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.