Marshall Wace LLP Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Marshall Wace LLP grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 818.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 458,337 shares of the software company’s stock after acquiring an additional 408,424 shares during the period. Marshall Wace LLP’s holdings in Autodesk were worth $113,415,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc raised its stake in Autodesk by 153.0% during the fourth quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after buying an additional 232,441 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after acquiring an additional 6,481 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Autodesk by 12.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock worth $17,991,000 after purchasing an additional 8,456 shares during the period. Meyer Handelman Co. acquired a new position in Autodesk during the 1st quarter valued at approximately $903,000. Finally, Caxton Associates LP grew its stake in Autodesk by 1,353.8% during the 4th quarter. Caxton Associates LP now owns 97,026 shares of the software company’s stock worth $23,624,000 after buying an additional 90,352 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 0.4 %

Shares of Autodesk stock opened at $268.46 on Tuesday. The company has a market cap of $57.86 billion, a P/E ratio of 58.11, a P/E/G ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $250.56 and a 200 day moving average price of $239.57.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,762 shares of company stock valued at $10,046,302. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADSK. Royal Bank of Canada boosted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Bank of America increased their price objective on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Morgan Stanley increased their price target on Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $292.17.

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.