Praesidium Investment Management Company LLC Has $53.07 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Praesidium Investment Management Company LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,492 shares of the software company’s stock after selling 8,617 shares during the period. Autodesk makes up approximately 2.7% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 14th largest position. Praesidium Investment Management Company LLC owned about 0.09% of Autodesk worth $53,072,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Clearbridge Investments LLC grew its stake in shares of Autodesk by 0.8% in the first quarter. Clearbridge Investments LLC now owns 3,595,608 shares of the software company’s stock valued at $996,523,000 after acquiring an additional 28,919 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Autodesk by 13.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,581,219 shares of the software company’s stock worth $992,533,000 after buying an additional 426,130 shares in the last quarter. Norges Bank acquired a new stake in Autodesk during the fourth quarter worth about $1,054,698,000. Geode Capital Management LLC grew its stake in Autodesk by 2.2% during the first quarter. Geode Capital Management LLC now owns 3,362,277 shares of the software company’s stock worth $929,078,000 after buying an additional 71,277 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Autodesk by 48.8% during the first quarter. Janus Henderson Group PLC now owns 3,351,545 shares of the software company’s stock worth $928,911,000 after buying an additional 1,099,348 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

ADSK traded up $4.71 during midday trading on Thursday, hitting $306.49. The stock had a trading volume of 23,206 shares, compared to its average volume of 981,496. The stock has a market capitalization of $67.43 billion, a P/E ratio of 51.76, a P/E/G ratio of 3.04 and a beta of 1.33. The company’s fifty day moving average is $285.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.48 and a current ratio of 0.48. Autodesk, Inc. has a 1 year low of $215.83 and a 1 year high of $321.13.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Wednesday, May 26th. The software company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.09. The business had revenue of $989.30 million during the quarter, compared to analyst estimates of $964.76 million. Autodesk had a return on equity of 104.82% and a net margin of 33.31%. Autodesk’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts expect that Autodesk, Inc. will post 2.78 EPS for the current year.

A number of equities research analysts have issued reports on ADSK shares. Zacks Investment Research upgraded shares of Autodesk from a “sell” rating to a “hold” rating and set a $291.00 price objective on the stock in a research note on Wednesday, May 12th. Barclays raised their price objective on shares of Autodesk from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, May 28th. Rosenblatt Securities began coverage on shares of Autodesk in a research report on Monday, June 7th. They issued a “buy” rating and a $320.00 price target for the company. Mizuho lifted their price target on shares of Autodesk from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Tuesday, July 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $330.00 price objective (up from $315.00) on shares of Autodesk in a report on Friday, May 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $312.40.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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