Bank of Nova Scotia Has $30.92 Million Position in Autodesk, Inc. $ADSK

Bank of Nova Scotia reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 48.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,336 shares of the software company’s stock after selling 92,364 shares during the period. Bank of Nova Scotia’s holdings in Autodesk were worth $30,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADSK. Brighton Jones LLC raised its stake in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after purchasing an additional 147 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Autodesk by 98.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock valued at $765,000 after buying an additional 1,224 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Autodesk in the second quarter worth approximately $466,000. Prospera Financial Services Inc acquired a new position in Autodesk in the second quarter worth approximately $225,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Autodesk during the second quarter valued at approximately $849,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $249.78 on Tuesday. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 1.66 and a beta of 1.45. The business has a 50 day moving average price of $251.79 and a 200 day moving average price of $287.43. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. Autodesk, Inc. has a twelve month low of $215.01 and a twelve month high of $329.09.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.64 by $0.21. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. Research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ADSK. Morgan Stanley dropped their price target on shares of Autodesk from $385.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. UBS Group lowered their target price on shares of Autodesk from $400.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Wells Fargo & Company reduced their price target on Autodesk from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Loop Capital lowered their price objective on Autodesk from $320.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Finally, HSBC reduced their target price on Autodesk from $388.00 to $379.00 and set a “buy” rating for the company in a report on Friday, November 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $342.96.

Autodesk Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.