IFP Advisors Inc Sells 50 Shares of Autodesk, Inc. (NASDAQ:ADSK)

IFP Advisors Inc reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. J.W. Cole Advisors Inc. raised its position in Autodesk by 70.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock worth $419,000 after purchasing an additional 631 shares during the period. Pinnacle Associates Ltd. purchased a new stake in Autodesk in the 3rd quarter worth about $307,000. Financial Advocates Investment Management raised its position in Autodesk by 3.4% in the 3rd quarter. Financial Advocates Investment Management now owns 2,092 shares of the software company’s stock worth $576,000 after purchasing an additional 69 shares during the period. Goldstone Financial Group LLC purchased a new stake in Autodesk in the 3rd quarter worth about $288,000. Finally, Catalyst Financial Partners LLC purchased a new stake in Autodesk in the 3rd quarter worth about $211,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. KeyCorp raised their target price on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Finally, Robert W. Baird reduced their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.86.

Autodesk Price Performance

Shares of ADSK opened at $274.23 on Friday. The company has a market cap of $58.96 billion, a price-to-earnings ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $296.63 and a two-hundred day moving average of $286.83.

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

Autodesk 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.