Wedge Capital Management L L P NC Sells 13,624 Shares of Autodesk, Inc. $ADSK

Wedge Capital Management L L P NC cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,453 shares of the software company’s stock after selling 13,624 shares during the quarter. Autodesk makes up about 1.0% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 21st biggest position. Wedge Capital Management L L P NC owned about 0.09% of Autodesk worth $57,264,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk in the third quarter worth about $25,000. Proffitt & Goodson Inc. bought a new position in Autodesk during the third quarter valued at $27,000. Heartwood Wealth Advisors LLC bought a new stake in Autodesk in the third quarter worth about $28,000. Tripletail Wealth Management LLC purchased a new stake in shares of Autodesk in the third quarter worth approximately $29,000. Finally, Financial Consulate Inc. bought a new stake in shares of Autodesk during the third quarter worth $32,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $373.00) on shares of Autodesk in a research report on Monday, March 2nd. Wells Fargo & Company decreased their price objective on Autodesk from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Citigroup lifted their target price on shares of Autodesk from $315.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Rothschild & Co Redburn set a $375.00 price objective on Autodesk in a report on Friday, January 9th. Finally, Stifel Nicolaus reduced their target price on shares of Autodesk from $375.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $342.81.

Autodesk Price Performance

NASDAQ:ADSK opened at $229.84 on Friday. Autodesk, Inc. has a one year low of $215.01 and a one year high of $329.09. The stock has a market cap of $48.50 billion, a PE ratio of 43.86, a P/E/G ratio of 1.59 and a beta of 1.45. The stock has a 50 day moving average price of $246.03 and a 200 day moving average price of $283.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.85.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.21. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.91 billion. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. Equities research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.