University of Texas Texas AM Investment Management Co. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

University of Texas Texas AM Investment Management Co. acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,360 shares of the software company's stock, valued at approximately $3,358,000.

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

Autodesk Stock Performance

Autodesk stock traded up $5.01 during mid-day trading on Tuesday, reaching $300.36. 2,132,529 shares of the company were exchanged, compared to its average volume of 1,640,944. The firm has a market cap of $64.26 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm's 50-day simple moving average is $272.19 and its two-hundred day simple moving average is $286.37. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Analysts Set New Price Targets

Several research firms recently commented on ADSK. UBS Group boosted their target price on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Morgan Stanley restated an "overweight" rating and set a $370.00 target price (up from $330.00) on shares of Autodesk in a research note on Friday. Macquarie reiterated an "outperform" rating and set a $360.00 price target on shares of Autodesk in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.45.

Insider Activity at Autodesk

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

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.