Concurrent Investment Advisors LLC Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Concurrent Investment Advisors LLC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,705 shares of the software company’s stock after buying an additional 127 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Autodesk were worth $800,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Autodesk in the fourth quarter valued at about $25,000. Concord Wealth Partners bought a new stake in Autodesk during the 3rd quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division purchased a new position in Autodesk in the 4th quarter worth approximately $37,000. Finally, Sierra Ocean LLC bought a new position in Autodesk in the 4th quarter worth approximately $39,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Autodesk stock opened at $285.00 on Monday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $298.25 and a 200-day moving average price of $286.00. The firm has a market capitalization of $61.28 billion, a PE ratio of 56.55, a price-to-earnings-growth ratio of 3.00 and a beta of 1.43.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird lifted their price target on shares of Autodesk from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays increased their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. KeyCorp lifted their target price on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets boosted their target price on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company 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.