Beese Fulmer Investment Management Inc. Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Beese Fulmer Investment Management Inc. lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,884 shares of the software company’s stock after selling 455 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Autodesk were worth $852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADSK. Livelsberger Financial Advisory bought a new position in shares of Autodesk during the third quarter valued at approximately $27,000. Concord Wealth Partners bought a new position in Autodesk in the 3rd quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Autodesk in the 3rd quarter worth about $28,000. Central Pacific Bank Trust Division bought a new stake in shares of Autodesk during the 4th quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after buying an additional 145 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

NASDAQ ADSK opened at $307.70 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $66.16 billion, a price-to-earnings ratio of 61.05, a PEG ratio of 3.67 and a beta of 1.43. The stock has a 50-day moving average of $299.01 and a 200 day moving average of $280.66. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Upgrades and Downgrades

ADSK has been the topic of several research reports. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Robert W. Baird lifted their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Barclays increased their price objective on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stifel Nicolaus boosted their target price on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Scotiabank initiated coverage on shares of Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $333.77.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.