Bfsg LLC Purchases 55 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Bfsg LLC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 58.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149 shares of the software company’s stock after purchasing an additional 55 shares during the period. Bfsg LLC’s holdings in Autodesk were worth $44,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jag Capital Management LLC purchased a new position in Autodesk in the third quarter worth $13,861,000. LMR Partners LLP bought a new stake in shares of Autodesk during the 3rd quarter worth $12,643,000. Starboard Value LP purchased a new position in shares of Autodesk in the 3rd quarter worth about $510,189,000. China Universal Asset Management Co. Ltd. grew its position in Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after buying an additional 5,365 shares during the period. Finally, Brookstone Capital Management increased its holdings in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ADSK shares. Macquarie started coverage on shares of Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 target price for the company. BMO Capital Markets increased their price objective on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Stifel Nicolaus raised their target price on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Bank of America upped their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities lifted their price objective on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Stock Performance

Shares of ADSK opened at $299.06 on Thursday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $64.30 billion, a PE ratio of 59.34, a price-to-earnings-growth ratio of 3.12 and a beta of 1.43. The stock has a 50-day moving average price of $298.99 and a 200-day moving average price of $284.82.

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