BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 14.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,172 shares of the software company's stock after buying an additional 5,212 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Autodesk were worth $12,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADSK. Merit Financial Group LLC lifted its stake in shares of Autodesk by 84.2% during the 4th quarter. Merit Financial Group LLC now owns 1,728 shares of the software company's stock worth $511,000 after acquiring an additional 790 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Autodesk during the fourth quarter valued at $210,000. Atomi Financial Group Inc. grew its holdings in shares of Autodesk by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 2,179 shares of the software company's stock worth $644,000 after purchasing an additional 102 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in Autodesk in the 4th quarter worth about $206,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Autodesk by 4.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 51,715 shares of the software company's stock valued at $15,285,000 after buying an additional 2,119 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADSK. DA Davidson set a $305.00 target price on shares of Autodesk and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Scotiabank reduced their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Bank of America increased their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Citigroup upped their price objective on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus price target of $337.45.

Autodesk Stock Up 0.4%

ADSK stock traded up $1.34 on Wednesday, hitting $301.70. 432,458 shares of the company's stock were exchanged, compared to its average volume of 1,636,292. The firm has a 50 day moving average price of $272.84 and a two-hundred day moving average price of $286.47. 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, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The stock has a market cap of $64.55 billion, a P/E ratio of 59.87, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Autodesk 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.