QRG Capital Management Inc. Has $4.37 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

QRG Capital Management Inc. increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 10.1% in the fourth quarter, HoldingsChannel reports. The firm owned 14,790 shares of the software company’s stock after purchasing an additional 1,353 shares during the period. QRG Capital Management Inc.’s holdings in Autodesk were worth $4,371,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in shares of Autodesk during the 4th quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in Autodesk in the 3rd quarter worth approximately $28,000. Tradewinds Capital Management LLC boosted its position in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Addison Advisors LLC grew its holdings in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Autodesk during the fourth quarter valued at approximately $37,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird decreased their price target on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday. Macquarie reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a research report on Friday. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. Finally, Barclays raised their target price on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Trading Down 2.9 %

Shares of ADSK opened at $274.23 on Friday. The stock has a 50 day simple moving average of $296.63 and a 200-day simple moving average of $286.83. 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 stock has a market cap of $58.96 billion, a PE ratio of 54.41, a PEG ratio of 2.94 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 earnings results 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. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. On average, sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal 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.