Apriem Advisors Lowers Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Apriem Advisors lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 42,586 shares of the software company’s stock after selling 2,773 shares during the period. Autodesk accounts for 1.4% of Apriem Advisors’ holdings, making the stock its 20th biggest holding. Apriem Advisors’ holdings in Autodesk were worth $12,587,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. National Pension Service increased its stake in shares of Autodesk by 4.8% during the fourth quarter. National Pension Service now owns 659,326 shares of the software company’s stock worth $194,877,000 after acquiring an additional 29,924 shares during the period. Lake Street Advisors Group LLC increased its holdings in Autodesk by 11.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,081 shares of the software company’s stock valued at $615,000 after buying an additional 213 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Autodesk by 55.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 30,693 shares of the software company’s stock valued at $9,072,000 after acquiring an additional 11,005 shares during the period. Exchange Capital Management Inc. boosted its stake in shares of Autodesk by 3.4% during the 4th quarter. Exchange Capital Management Inc. now owns 2,062 shares of the software company’s stock worth $609,000 after acquiring an additional 67 shares in the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADSK shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 price objective on shares of Autodesk in a report on Tuesday. Citigroup lifted their price target on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective on the stock. Barclays raised their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Stifel Nicolaus upped their price target on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Price Performance

ADSK opened at $285.67 on Thursday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company’s 50 day simple moving average is $297.33 and its 200 day simple moving average is $286.62. The stock has a market capitalization of $61.42 billion, a PE ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion for 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 quarter last year, the business earned $1.33 EPS. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.76 EPS 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.