Alberta Investment Management Corp Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Alberta Investment Management Corp acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,300 shares of the software company’s stock, valued at approximately $2,453,000.

A number of other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Autodesk in the 4th quarter valued at approximately $25,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Autodesk during the third quarter worth $28,000. Central Pacific Bank Trust Division bought a new position in Autodesk in the fourth quarter valued at $37,000. Finally, Sierra Ocean LLC acquired a new stake in Autodesk in the 4th quarter valued at $39,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Scotiabank assumed coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Robert W. Baird boosted their price target on Autodesk from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup upped their price objective on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company raised their target price on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $291.02 on Friday. The firm has a market cap 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. The business’s 50 day moving average is $298.62 and its 200-day moving average is $284.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 EPS. Equities research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current 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.