BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 12.2% in the third quarter, Holdings Channel reports. The institutional investor owned 35,960 shares of the software company’s stock after selling 5,008 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Autodesk were worth $9,906,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Jag Capital Management LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at about $13,861,000. LMR Partners LLP purchased a new position in shares of Autodesk in the 3rd quarter valued at about $12,643,000. Bank of Montreal Can increased its holdings in shares of Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares in the last quarter. Finally, Forsta AP Fonden increased its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ADSK shares. DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. BMO Capital Markets raised their target price on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a report on Friday. 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, Oppenheimer raised their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” 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 MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $315.10.

Insider Buying and Selling at Autodesk

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

Autodesk Price Performance

ADSK opened at $291.90 on Monday. The company’s 50 day simple moving average is $289.93 and its 200 day simple moving average is $258.15. 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 1 year low of $195.32 and a 1 year high of $326.62. The stock has a market capitalization of $62.76 billion, a PE ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47.

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 firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.33 earnings per share. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.79 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.