Hickory Asset Management Inc. Acquires New Position in Autodesk, Inc. (NASDAQ:ADSK)

Hickory Asset Management Inc. bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,037 shares of the software company’s stock, valued at approximately $602,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its position in Autodesk by 3.0% during 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 in the last quarter. FMR LLC increased its position in Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after acquiring an additional 61,785 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the period. Finally, Starboard Value LP acquired a new position in Autodesk during the 3rd quarter worth $510,189,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ADSK shares. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Barclays raised their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Macquarie assumed coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. Citigroup lifted their target price on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Trading Down 0.3 %

NASDAQ:ADSK opened at $302.72 on Friday. The business has a 50 day moving average price of $299.54 and a two-hundred day moving average price of $282.88. 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 twelve month low of $195.32 and a twelve month high of $326.62. The company has a market cap of $65.08 billion, a P/E ratio of 60.06, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. Autodesk’s revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

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.