Addison Advisors LLC Raises Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Addison Advisors LLC lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 157.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121 shares of the software company’s stock after buying an additional 74 shares during the quarter. Addison Advisors LLC’s holdings in Autodesk were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADSK. Starboard Value LP purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $510,189,000. Massachusetts Financial Services Co. MA lifted its position in shares of Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after buying an additional 452,728 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after buying an additional 387,309 shares during the last quarter. State Street Corp lifted its position in shares of Autodesk by 3.0% during the 3rd 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. Finally, Principal Financial Group Inc. lifted its position in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $283.72 on Wednesday. The firm has a market capitalization of $61.00 billion, a P/E ratio of 56.29, a PEG ratio of 2.94 and a beta of 1.43. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company’s fifty day moving average is $297.47 and its two-hundred day moving average is $286.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS 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 analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. Analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley lifted their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a report on Friday, November 29th. Finally, Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

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.