Burney Co. Trims Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Burney Co. lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,916 shares of the software company’s stock after selling 305 shares during the quarter. Burney Co.’s holdings in Autodesk were worth $12,389,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its position in Autodesk by 16.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,157 shares of the software company’s stock worth $2,266,000 after buying an additional 1,260 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Autodesk by 1,473.8% in the second quarter. Federated Hermes Inc. now owns 16,163 shares of the software company’s stock worth $4,000,000 after acquiring an additional 15,136 shares during the period. Thoroughbred Financial Services LLC raised its holdings in shares of Autodesk by 95.1% during the second quarter. Thoroughbred Financial Services LLC now owns 2,378 shares of the software company’s stock worth $588,000 after purchasing an additional 1,159 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Autodesk during the second quarter valued at $220,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Autodesk by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,001,485 shares of the software company’s stock valued at $247,802,000 after purchasing an additional 188,140 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of ADSK opened at $294.14 on Wednesday. The company has a market cap of $63.24 billion, a P/E ratio of 58.36, a PEG ratio of 3.62 and a beta of 1.42. 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. The firm’s 50 day moving average price is $301.26 and its 200 day moving average price is $274.86.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business 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 revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ADSK shares. Barclays lifted their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Oppenheimer raised their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, KeyCorp boosted their target price 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. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.05.

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.