Autodesk, Inc. (NASDAQ:ADSK) Position Boosted by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,989 shares of the software company’s stock after acquiring an additional 1,610 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Autodesk were worth $2,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in Autodesk during the 4th quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new position in Autodesk during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk in the 3rd quarter valued at approximately $28,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the 3rd quarter valued at approximately $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ADSK. Oppenheimer boosted their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank began coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price for the company. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Morgan Stanley upped their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Price Performance

Autodesk stock opened at $302.72 on Tuesday. The business’s 50-day simple moving average is $299.44 and its 200 day simple moving average is $283.83. The stock has a market cap of $65.08 billion, a price-to-earnings ratio of 60.06, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month 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 released 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 firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

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.