Kentucky Retirement Systems Trims Position in Autodesk, Inc. (NASDAQ:ADSK)

Kentucky Retirement Systems decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,805 shares of the software company’s stock after selling 204 shares during the quarter. Kentucky Retirement Systems’ holdings in Autodesk were worth $4,376,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Starboard Value LP bought a new stake in Autodesk during the 3rd quarter valued at approximately $510,189,000. Massachusetts Financial Services Co. MA grew its holdings in Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after buying an additional 452,728 shares in the last quarter. Franklin Resources Inc. raised its position 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 valued at $413,405,000 after buying an additional 387,309 shares during the last quarter. State Street Corp lifted its holdings in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK stock opened at $285.00 on Friday. The stock’s 50-day moving average is $298.25 and its 200 day moving average is $285.27. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $61.28 billion, a P/E ratio of 56.55, a PEG ratio of 3.08 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results 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 net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADSK. KeyCorp lifted their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. UBS Group started coverage on Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price on the stock. Morgan Stanley boosted their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and raised their price target for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $334.45.

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.