Praesidium Investment Management Company LLC decreased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,492 shares of the software company’s stock after selling 8,617 shares during the quarter. Autodesk makes up 2.7% of Praesidium Investment Management Company LLC’s holdings, making the stock its 14th largest position. Praesidium Investment Management Company LLC’s holdings in Autodesk were worth $53,072,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Safeguard Investment Advisory Group LLC acquired a new position in shares of Autodesk during the fourth quarter valued at approximately $30,000. NuWave Investment Management LLC acquired a new position in shares of Autodesk during the first quarter valued at approximately $50,000. Lindbrook Capital LLC raised its holdings in shares of Autodesk by 22.5% during the first quarter. Lindbrook Capital LLC now owns 185 shares of the software company’s stock valued at $51,000 after acquiring an additional 34 shares during the last quarter. Evoke Wealth LLC raised its holdings in shares of Autodesk by 84.6% during the first quarter. Evoke Wealth LLC now owns 192 shares of the software company’s stock valued at $53,000 after acquiring an additional 88 shares during the last quarter. Finally, Reilly Financial Advisors LLC acquired a new position in shares of Autodesk during the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 86.43% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research raised Autodesk from a “sell” rating to a “hold” rating and set a $291.00 target price for the company in a report on Wednesday, May 12th. Morgan Stanley increased their price target on Autodesk from $266.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 28th. Mizuho increased their price target on Autodesk from $335.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, July 13th. Barclays increased their price target on Autodesk from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, May 28th. Finally, Rosenblatt Securities assumed coverage on Autodesk in a report on Monday, June 7th. They issued a “buy” rating and a $320.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $312.40.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Wednesday, May 26th. The software company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.09. Autodesk had a return on equity of 104.82% and a net margin of 33.31%. The business had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $964.76 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Autodesk, Inc. will post 2.78 earnings per share for the current year.
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.
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