American Century Companies Inc. Reduces Stake in Autodesk, Inc. (NASDAQ:ADSK)

American Century Companies Inc. trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 823,494 shares of the software company’s stock after selling 63,132 shares during the quarter. American Century Companies Inc. owned about 0.38% of Autodesk worth $105,910,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Autodesk by 214.7% during the 3rd quarter. Capital World Investors now owns 5,079,079 shares of the software company’s stock worth $792,895,000 after buying an additional 3,465,109 shares during the last quarter. Norges Bank acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $302,827,000. Renaissance Technologies LLC acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $106,197,000. SRS Investment Management LLC grew its stake in shares of Autodesk by 36.6% during the 4th quarter. SRS Investment Management LLC now owns 1,424,578 shares of the software company’s stock worth $183,215,000 after purchasing an additional 381,878 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Autodesk by 148.2% during the 3rd quarter. Deutsche Bank AG now owns 587,074 shares of the software company’s stock worth $91,646,000 after purchasing an additional 350,543 shares during the period. 95.38% of the stock is owned by institutional investors and hedge funds.

ADSK traded up $1.03 on Wednesday, reaching $176.31. The company’s stock had a trading volume of 1,168,200 shares, compared to its average volume of 1,802,749. The company has a market capitalization of $38.68 billion, a price-to-earnings ratio of 1,602.82, a price-to-earnings-growth ratio of 2.52 and a beta of 1.92. Autodesk, Inc. has a fifty-two week low of $117.72 and a fifty-two week high of $177.37.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $737.30 million during the quarter, compared to analyst estimates of $707.09 million. During the same period last year, the company earned ($0.09) earnings per share. On average, equities research analysts predict that Autodesk, Inc. will post 1.76 EPS for the current fiscal year.

ADSK has been the topic of a number of research analyst reports. Wedbush dropped their price target on shares of Autodesk from $146.00 to $131.00 and set a “positive” rating on the stock in a research note on Thursday, December 27th. Evercore ISI reissued a “buy” rating and issued a $190.00 price target on shares of Autodesk in a research note on Thursday, March 21st. Argus raised their price objective on Autodesk to $184.00 and gave the company an “average” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Autodesk from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Finally, BidaskClub lowered Autodesk from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $172.72.

In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $152.90, for a total value of $152,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Fronzo Pascal W. Di sold 8,839 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $165.00, for a total value of $1,458,435.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,227 shares of company stock valued at $10,573,716. 0.14% of the stock is owned by company insiders.

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About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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