IFP Advisors Inc Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

IFP Advisors Inc cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,106 shares of the software company’s stock after selling 50 shares during the period. IFP Advisors Inc’s holdings in Autodesk were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its stake in Autodesk by 3.0% during the 3rd 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 last quarter. FMR LLC increased its stake 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 worth $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Autodesk by 2.7% in 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 purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP purchased a new stake in shares of Autodesk in the 3rd quarter worth $510,189,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 2.9 %

ADSK opened at $274.23 on Friday. 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 52 week low of $195.32 and a 52 week high of $326.62. The firm has a 50-day simple moving average of $296.63 and a two-hundred day simple moving average of $286.83. The company has a market capitalization of $58.96 billion, a PE ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced 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 firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Macquarie restated an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday. UBS Group upped their price objective on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BMO Capital Markets upped their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $334.86.

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.