Janney Montgomery Scott LLC Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Janney Montgomery Scott LLC lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,687 shares of the software company’s stock after selling 4,144 shares during the period. Janney Montgomery Scott LLC’s holdings in Autodesk were worth $29,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall Financial Group LLC raised its position in Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after acquiring an additional 35 shares during the last quarter. Grove Bank & Trust raised its position in shares of Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after buying an additional 37 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Autodesk by 11.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after buying an additional 38 shares during the last quarter. Avitas Wealth Management LLC raised its position in shares of Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after buying an additional 42 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its position in shares of Autodesk by 1.4% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,045 shares of the software company’s stock valued at $900,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ADSK shares. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Citigroup boosted their price objective on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. UBS Group started coverage on shares of Autodesk in a research report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective for the company. Finally, Stifel Nicolaus upped their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.05.

Autodesk Price Performance

ADSK opened at $300.83 on Friday. 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, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a 50 day moving average of $299.39 and a two-hundred day moving average of $276.80. The company has a market cap of $64.68 billion, a P/E ratio of 59.69, a P/E/G ratio of 3.55 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

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.