Baird Financial Group Inc. increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 31.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,400 shares of the software company’s stock after acquiring an additional 18,212 shares during the period. Baird Financial Group Inc.’s holdings in Autodesk were worth $13,834,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Autodesk by 18.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,190 shares of the software company’s stock worth $2,184,000 after acquiring an additional 2,042 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Autodesk during the fourth quarter valued at about $424,000. Captrust Financial Advisors grew its stake in shares of Autodesk by 95.0% during the fourth quarter. Captrust Financial Advisors now owns 4,390 shares of the software company’s stock valued at $825,000 after buying an additional 2,139 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Autodesk by 481.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 79,187 shares of the software company’s stock valued at $14,528,000 after buying an additional 65,566 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Autodesk during the fourth quarter valued at about $135,000. 92.93% of the stock is owned by institutional investors.
In other Autodesk news, CAO Stephen W. Hope sold 212 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $147.81, for a total value of $31,335.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.
ADSK has been the topic of several recent analyst reports. Credit Suisse Group raised their target price on Autodesk from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. KeyCorp raised their target price on Autodesk from $210.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Bank of America raised their target price on Autodesk from $127.00 to $150.00 and gave the stock an “underperform” rating in a research note on Friday, February 28th. Morgan Stanley raised their target price on Autodesk from $187.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, Wedbush cut their target price on Autodesk from $204.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $204.91.
Shares of ADSK opened at $149.99 on Thursday. Autodesk, Inc. has a one year low of $125.38 and a one year high of $211.58. The company has a 50-day simple moving average of $182.78 and a two-hundred day simple moving average of $171.50. The firm has a market capitalization of $32.92 billion, a PE ratio of 156.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.66.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 27th. The software company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.03. Autodesk had a net margin of 6.55% and a negative return on equity of 165.74%. The business had revenue of $899.30 million during the quarter, compared to analyst estimates of $891.06 million. During the same period last year, the business posted $0.46 earnings per share. Autodesk’s quarterly revenue was up 22.0% compared to the same quarter last year. Analysts anticipate that Autodesk, Inc. will post 2.89 earnings per share for the current fiscal year.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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