13,585 Shares in Autodesk, Inc. (NASDAQ:ADSK) Acquired by RWC Asset Management LLP

RWC Asset Management LLP purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,585 shares of the software company’s stock, valued at approximately $4,015,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADSK. Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter valued at $510,189,000. Massachusetts Financial Services Co. MA raised its stake in Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after buying an additional 452,728 shares during the period. Franklin Resources Inc. lifted its stake in Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after buying an additional 387,309 shares in the last quarter. State Street Corp raised its position in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Down 2.1 %

Shares of NASDAQ:ADSK opened at $285.00 on Monday. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 3.00 and a beta of 1.43. The firm’s 50-day simple moving average is $298.25 and its 200-day simple moving average is $286.00. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. As a group, equities research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADSK shares. Citigroup increased their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Macquarie began coverage on shares of Autodesk in a report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price on the stock. 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 report on Wednesday, December 18th. KeyCorp lifted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $334.45.

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.