13,585 Shares in Autodesk, Inc. (NASDAQ:ADSK) Purchased by RWC Asset Management LLP

RWC Asset Management LLP purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 13,585 shares of the software company’s stock, valued at approximately $4,015,000.

A number of other hedge funds have also recently bought and sold shares of the company. Starboard Value LP acquired a new stake in shares of Autodesk during the third quarter valued at approximately $510,189,000. Massachusetts Financial Services Co. MA increased its position in Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after purchasing an additional 452,728 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares in the last quarter. State Street Corp lifted its stake in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Autodesk stock opened at $285.00 on Monday. The business has a fifty day moving average price of $298.25 and a 200-day moving average price of $286.00. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The firm has a market capitalization of $61.28 billion, a P/E ratio of 56.55, a PEG ratio of 3.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. UBS Group began coverage on Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 target price for the company. Rosenblatt Securities lifted their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America increased their price objective on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Barclays boosted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.