Aureus Asset Management LLC Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Aureus Asset Management LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 19.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,913 shares of the software company’s stock after purchasing an additional 14,509 shares during the quarter. Autodesk comprises approximately 1.6% of Aureus Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Aureus Asset Management LLC’s holdings in Autodesk were worth $24,494,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jag Capital Management LLC purchased a new position in shares of Autodesk during the 3rd quarter worth $13,861,000. LMR Partners LLP purchased a new position in shares of Autodesk during the 3rd quarter worth $12,643,000. Bank of Montreal Can grew its holdings in shares of Autodesk by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after purchasing an additional 73,363 shares during the period. Cetera Investment Advisers grew its holdings in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after purchasing an additional 3,800 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $291.90 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market capitalization of $62.76 billion, a PE ratio of 57.92, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. The stock’s 50-day simple moving average is $289.93 and its 200-day simple moving average is $258.15.

Autodesk (NASDAQ:ADSK) last issued its earnings results 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. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.79 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,936 shares of company stock valued at $549,333. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADSK. Citigroup raised their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer raised their target price on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Berenberg Bank raised their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.10.

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.