Beese Fulmer Investment Management Inc. Lowers Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Beese Fulmer Investment Management Inc. trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 13.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,884 shares of the software company’s stock after selling 455 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Autodesk were worth $852,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position 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 worth $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. FMR LLC boosted its holdings in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Finally, Starboard Value LP purchased a new stake in shares of Autodesk in the third quarter worth about $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADSK has been the subject of several research analyst reports. UBS Group initiated coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. HSBC lowered 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. Stifel Nicolaus increased their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Eight research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $333.77.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Trading Down 1.2 %

ADSK stock opened at $307.70 on Friday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm’s 50-day moving average is $299.01 and its 200 day moving average is $280.66. The company has a market capitalization of $66.16 billion, a PE ratio of 61.05, a P/E/G ratio of 3.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last issued 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 business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. On average, research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

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.