DSM Capital Partners LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

DSM Capital Partners LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 532,528 shares of the software company’s stock after selling 28,227 shares during the period. Autodesk accounts for about 2.4% of DSM Capital Partners LLC’s holdings, making the stock its 14th biggest holding. DSM Capital Partners LLC owned 0.25% of Autodesk worth $157,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. FMR LLC raised its holdings in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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. grew its holdings 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 stake in Autodesk during the third quarter worth about $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 2.3 %

Shares of NASDAQ ADSK opened at $295.66 on Wednesday. The stock has a market cap of $63.57 billion, a P/E ratio of 58.66, a PEG ratio of 3.17 and a beta of 1.43. The business’s fifty day simple moving average is $299.16 and its 200-day simple moving average is $284.71. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, equities analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ADSK. Bank of America boosted their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays raised their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and upped their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $333.77.

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.