Keudell Morrison Wealth Management Makes New $203,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

Keudell Morrison Wealth Management acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 688 shares of the software company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position 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 purchasing an additional 288,931 shares in the last quarter. FMR LLC grew its position in Autodesk by 0.8% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Autodesk by 2.7% during 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 purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. grew its position in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP purchased a new position in Autodesk during the 3rd quarter worth approximately $510,189,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

NASDAQ ADSK opened at $311.34 on Friday. The stock has a market cap of $66.94 billion, a P/E ratio of 61.77, a PEG ratio of 3.59 and a beta of 1.42. The company’s 50-day simple moving average is $299.28 and its 200 day simple moving average is $278.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a quick ratio of 0.65, a current 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, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADSK shares. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday. UBS Group started coverage on shares of Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.50.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

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.