Tortoise Capital Advisors L.L.C. Makes New $6.95 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

Tortoise Capital Advisors L.L.C. bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 25,078 shares of the software company’s stock, valued at approximately $6,950,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Safeguard Investment Advisory Group LLC acquired a new position in Autodesk during the 4th quarter worth about $30,000. NuWave Investment Management LLC acquired a new position in Autodesk during the 1st quarter worth about $50,000. Lindbrook Capital LLC lifted its holdings in Autodesk by 22.5% during the 1st quarter. Lindbrook Capital LLC now owns 185 shares of the software company’s stock worth $51,000 after buying an additional 34 shares during the period. Evoke Wealth LLC lifted its stake in shares of Autodesk by 84.6% in the 1st quarter. Evoke Wealth LLC now owns 192 shares of the software company’s stock valued at $53,000 after purchasing an additional 88 shares during the period. Finally, Reilly Financial Advisors LLC acquired a new position in shares of Autodesk in the 1st quarter valued at about $54,000. 86.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on ADSK. Stifel Nicolaus began coverage on Autodesk in a research note on Tuesday, May 25th. They issued a “buy” rating and a $342.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $330.00 price objective (up from $315.00) on shares of Autodesk in a research note on Friday, May 28th. Rosenblatt Securities started coverage on Autodesk in a research report on Monday, June 7th. They issued a “buy” rating and a $320.00 target price for the company. Zacks Investment Research raised Autodesk from a “sell” rating to a “hold” rating and set a $291.00 target price for the company in a research report on Wednesday, May 12th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Autodesk in a research report on Monday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Autodesk presently has a consensus rating of “Buy” and a consensus price target of $312.40.

Autodesk stock traded up $6.31 during trading on Thursday, hitting $308.09. The stock had a trading volume of 28,864 shares, compared to its average volume of 981,496. Autodesk, Inc. has a 1 year low of $215.83 and a 1 year high of $321.13. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.48 and a current ratio of 0.48. The company’s 50 day moving average price is $285.98. The firm has a market cap of $67.78 billion, a PE ratio of 51.76, a price-to-earnings-growth ratio of 3.04 and a beta of 1.33.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Wednesday, May 26th. The software company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. Autodesk had a return on equity of 104.82% and a net margin of 33.31%. The business had revenue of $989.30 million for the quarter, compared to the consensus estimate of $964.76 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Autodesk’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Autodesk, Inc. will post 2.78 EPS for the current fiscal year.

Autodesk Profile

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.

Further Reading: Profit Margin

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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