Handelsbanken Fonder AB Buys 3,008 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Handelsbanken Fonder AB grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 124,858 shares of the software company’s stock after acquiring an additional 3,008 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Autodesk worth $36,904,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its position 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 purchasing an additional 288,931 shares during the period. FMR LLC raised its position in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $657,292,000 after acquiring an additional 61,785 shares during the period. Principal Financial Group Inc. boosted 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 acquiring an additional 245,816 shares in the last quarter. Finally, Starboard Value LP acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $510,189,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADSK shares. Robert W. Baird upped their target price on Autodesk from $330.00 to $345.00 and gave the stock an “outperform” rating in a research note on Wednesday. Oppenheimer raised their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Macquarie assumed coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target on the stock. KeyCorp upped their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Citigroup boosted their target price on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Stock Down 2.7 %

Shares of NASDAQ ADSK opened at $291.02 on Friday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. 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’s 50 day moving average price is $298.62 and its 200-day moving average price is $284.86. The company has a market capitalization of $62.57 billion, a P/E ratio of 57.74, a price-to-earnings-growth ratio of 3.05 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly 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 net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current year.

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.