Caprock Group LLC Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Caprock Group LLC grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,471 shares of the software company’s stock after buying an additional 205 shares during the quarter. Caprock Group LLC’s holdings in Autodesk were worth $1,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares in the last quarter. FMR LLC lifted its position in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Starboard Value LP acquired a new stake in Autodesk during the third quarter valued at approximately $510,189,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADSK. Barclays lifted their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. KeyCorp lifted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Scotiabank assumed coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.50.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Autodesk Trading Up 0.4 %

Autodesk stock opened at $311.34 on Monday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The stock has a market capitalization of $66.94 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.42. The firm has a 50 day simple moving average of $299.08 and a 200-day simple moving average of $279.34. 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 issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for 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 firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. As a group, equities research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal 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.