USA Financial Formulas Takes $1.30 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

USA Financial Formulas acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,380 shares of the software company's stock, valued at approximately $1,295,000. Autodesk makes up approximately 0.2% of USA Financial Formulas' portfolio, making the stock its 25th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Jag Capital Management LLC acquired a new stake in shares of Autodesk in the third quarter valued at approximately $13,861,000. LMR Partners LLP acquired a new stake in shares of Autodesk in the 3rd quarter valued at $12,643,000. Starboard Value LP bought a new stake in shares of Autodesk during the third quarter worth $510,189,000. Erste Asset Management GmbH bought a new stake in shares of Autodesk during the third quarter worth $20,087,000. Finally, Bank of Montreal Can boosted its holdings in Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company's stock valued at $248,385,000 after acquiring an additional 73,363 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ADSK. UBS Group assumed coverage on Autodesk in a report on Monday, December 2nd. They set a "buy" rating and a $350.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Macquarie began coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an "outperform" rating and a $380.00 price objective on the stock. BMO Capital Markets upped their target price 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. Finally, Barclays raised their price target on Autodesk from $310.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $326.05.

Autodesk Stock Up 0.3 %

Shares of ADSK stock traded up $0.85 on Thursday, hitting $291.79. 649,610 shares of the stock were exchanged, compared to its average volume of 1,329,928. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $62.74 billion, a P/E ratio of 57.91, a price-to-earnings-growth ratio of 3.36 and a beta of 1.42. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The business has a 50-day moving average of $301.26 and a 200 day moving average of $274.86.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 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 firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares of the company's stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

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.