Principal Securities Inc. Has $4.45 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Principal Securities Inc. grew its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,046 shares of the software company's stock after purchasing an additional 2,012 shares during the period. Principal Securities Inc.'s holdings in Autodesk were worth $4,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in Autodesk during the fourth quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Autodesk during the third quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in Autodesk during the third quarter worth $28,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the third quarter valued at about $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk in the fourth quarter valued at about $37,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of ADSK stock traded up $3.40 on Wednesday, reaching $299.06. The company had a trading volume of 1,601,265 shares, compared to its average volume of 1,367,789. The stock has a market capitalization of $64.30 billion, a PE ratio of 59.34, a price-to-earnings-growth ratio of 3.12 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The business's 50-day moving average is $298.99 and its 200 day moving average is $284.82.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The firm's revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of recent research reports. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Barclays boosted 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. Hsbc Global Res cut shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Finally, Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a "sector outperform" rating and a $360.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.