Congress Asset Management Co. Sells 912 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Congress Asset Management Co. cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,592 shares of the software company’s stock after selling 912 shares during the quarter. Congress Asset Management Co.’s holdings in Autodesk were worth $2,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADSK. State Street Corp lifted its position in Autodesk by 3.0% during 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 purchasing an additional 288,931 shares during the period. FMR LLC lifted its holdings in Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Autodesk by 2.7% in the 3rd 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 buying an additional 61,785 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Autodesk by 12.6% in 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 period. Finally, Starboard Value LP purchased a new stake in Autodesk during the 3rd quarter valued at approximately $510,189,000. 90.24% of the stock is owned by institutional investors.

Autodesk Trading Down 0.3 %

Shares of NASDAQ:ADSK opened at $302.72 on Tuesday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The business has a 50-day moving average price of $299.44 and a 200-day moving average price of $283.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $65.08 billion, a price-to-earnings ratio of 60.06, a PEG ratio of 3.17 and a beta of 1.43.

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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADSK. Oppenheimer increased their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Citigroup raised their price target on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Stifel Nicolaus raised their price target on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $333.77.

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.