Boston Financial Mangement LLC Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

Boston Financial Mangement LLC grew its position in Autodesk, Inc. (NASDAQ:ADSK) by 32.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,858 shares of the software company’s stock after purchasing an additional 460 shares during the quarter. Boston Financial Mangement LLC’s holdings in Autodesk were worth $549,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Starboard Value LP purchased a new position in shares of Autodesk during the third quarter valued at approximately $510,189,000. International Assets Investment Management LLC raised its holdings in shares of Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after purchasing an additional 387,309 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $291.02 on Friday. The firm has a fifty day moving average price of $298.62 and a 200-day moving average price of $284.86. 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 stock has a market cap of $62.57 billion, a PE ratio of 57.74, a price-to-earnings-growth ratio of 3.05 and a beta of 1.43. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

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

Analyst Ratings Changes

Several research firms have recently weighed in on ADSK. Wells Fargo & Company boosted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Bank of America upped their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $334.45.

Autodesk 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.