Strategic Financial Concepts LLC Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Strategic Financial Concepts LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,058 shares of the software company’s stock, valued at approximately $2,973,000.

Several other institutional investors have also modified their holdings of ADSK. Starboard Value LP acquired a new position in Autodesk in the 3rd quarter worth $510,189,000. International Assets Investment Management LLC lifted its holdings in shares of Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after buying an additional 452,728 shares during the period. Franklin Resources Inc. grew its holdings in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after buying an additional 387,309 shares in the last quarter. Finally, State Street Corp raised its position in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. UBS Group initiated coverage on shares of Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 target price for the company. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Bank of America upped their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Stock Performance

NASDAQ:ADSK opened at $301.15 on Monday. The stock has a 50 day simple moving average of $299.53 and a 200 day simple moving average of $281.48. The stock has a market cap of $64.75 billion, a P/E ratio of 59.75, a PEG ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

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.