Bank of New York Mellon Corp Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Bank of New York Mellon Corp cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,481,608 shares of the software company’s stock after selling 105,059 shares during the period. Bank of New York Mellon Corp owned 0.69% of Autodesk worth $437,919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC boosted its stake in shares of Autodesk by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after acquiring an additional 35 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust raised its holdings in Autodesk by 9.2% in the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after purchasing an additional 37 shares during the period. Journey Strategic Wealth LLC boosted its position in Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after purchasing an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Autodesk by 11.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock worth $106,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK stock opened at $283.72 on Wednesday. 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 capitalization of $61.00 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The firm’s 50-day moving average is $297.47 and its two-hundred day moving average is $286.63. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

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. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 EPS. Analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of research analyst reports. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. KeyCorp lifted their target price on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company upped their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group began coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target on the stock. Finally, HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research note on Friday, November 29th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk has a consensus 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.