CIBC Asset Management Inc Has $20.42 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

CIBC Asset Management Inc raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,069 shares of the software company’s stock after buying an additional 2,250 shares during the quarter. CIBC Asset Management Inc’s holdings in Autodesk were worth $20,415,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Jag Capital Management LLC bought a new position in Autodesk during the third quarter worth about $13,861,000. LMR Partners LLP bought a new position in shares of Autodesk during the third quarter worth approximately $12,643,000. Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter valued at approximately $510,189,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Autodesk by 196.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after buying an additional 5,365 shares during the period. Finally, Brookstone Capital Management grew its position in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $302.72 on Tuesday. The firm has a market cap of $65.08 billion, a PE ratio of 60.06, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The firm’s fifty day moving average is $299.44 and its 200-day moving average is $283.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $1.33 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADSK shares. Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Stifel Nicolaus boosted their price target on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Bank of America increased their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird boosted their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, KeyCorp increased their price target on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.77.

Autodesk Company 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.