Autodesk, Inc. (NASDAQ:ADSK) Stock Position Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,790 shares of the software company’s stock after buying an additional 1,353 shares during the period. QRG Capital Management Inc.’s holdings in Autodesk were worth $4,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Starboard Value LP bought a new stake in Autodesk during the third quarter worth approximately $510,189,000. Massachusetts Financial Services Co. MA increased 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 valued at $156,296,000 after purchasing an additional 452,728 shares during the period. Franklin Resources Inc. raised its stake in shares of Autodesk by 36.5% in 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 in the last quarter. State Street Corp lifted its holdings in shares of Autodesk by 3.0% in 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 buying an additional 288,931 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Autodesk by 12.6% during 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 buying an additional 245,816 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank assumed coverage on shares of Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target on the stock. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Macquarie restated an “outperform” rating and set a $360.00 target price on shares of Autodesk in a report on Friday. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and upped their price target for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Trading Down 2.9 %

Shares of NASDAQ:ADSK opened at $274.23 on Friday. The firm has a fifty day moving average of $296.63 and a two-hundred day moving average of $286.83. 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 12-month low of $195.32 and a 12-month high of $326.62. The firm has a market capitalization of $58.96 billion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities 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.