Olympiad Research LP Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Olympiad Research LP acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,110 shares of the software company’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in shares of Autodesk during the third quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the third quarter valued at approximately $28,000. Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the fourth quarter valued at approximately $37,000. Finally, Sierra Ocean LLC bought a new position in shares of Autodesk during the fourth quarter valued at approximately $39,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADSK. Stifel Nicolaus upped their target price on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup upped their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. BMO Capital Markets increased their price objective on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. KeyCorp increased their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, UBS Group assumed coverage on Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $334.45.

Autodesk Trading Down 2.1 %

Autodesk stock opened at $285.00 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The stock has a market capitalization of $61.28 billion, a PE ratio of 56.55, a price-to-earnings-growth ratio of 3.00 and a beta of 1.43. The business’s fifty day moving average is $298.25 and its 200 day moving average is $285.63.

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