Lateef Investment Management Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Lateef Investment Management reduced its stake in Autodesk by 6.71% during the most recent quarter end. The investment management company now holds a total of 3,780,475 shares of Autodesk which is valued at $218.8 Million after selling 271,886 shares in Autodesk , the firm said in a disclosure report filed with the SEC on May 13, 2016.Autodesk makes up approximately 6.90% of Lateef Investment Management’s portfolio.

Other Hedge Funds, Including , Salem Investment Counselors Inc reduced its stake in ADSK by selling 12,500 shares or 46.9% in the most recent quarter. The Hedge Fund company now holds 14,150 shares of ADSK which is valued at $818,861. Autodesk makes up approx 0.10% of Salem Investment Counselors Inc’s portfolio.New Mexico Educational Retirement Board boosted its stake in ADSK in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 25,057 shares of Autodesk which is valued at $1.5 Million. Autodesk makes up approx 0.07% of New Mexico Educational Retirement Board’s portfolio. Smith Asset Management Group Lp sold out all of its stake in ADSK during the most recent quarter. The investment firm sold 18,738 shares of ADSK which is valued $1.1 Million. American Century Companies Inc sold out all of its stake in ADSK during the most recent quarter. The investment firm sold 2,595,290 shares of ADSK which is valued $152.2 Million.Retirement Systems Of Alabama reduced its stake in ADSK by selling 2,494 shares or 2.13% in the most recent quarter. The Hedge Fund company now holds 114,807 shares of ADSK which is valued at $6.9 Million. Autodesk makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.

Autodesk opened for trading at $58.75 and hit $59.94 on the upside on Wednesday, eventually ending the session at $58.91, with a gain of 0.77% or 0.45 points. The heightened volatility saw the trading volume jump to 20,25,619 shares. Company has a market cap of $13,225 M.

On the company’s financial health, Autodesk reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 19, 2016. Analyst had a consensus of $-0.14. The company had revenue of $511.90 million for the quarter, compared to analysts expectations of $513.00 million. The company’s revenue was down -20.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Autodesk. Company shares were Reiterated by Wedbush on May 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 57 from a previous price target of $55 .Company shares were Reiterated by Canaccord Genuity on May 20, 2016 to “Hold”, Firm has raised the Price Target to $ 60 from a previous price target of $55 .Company shares were Reiterated by Wedbush on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

Autodesk Inc. (Autodesk) is a design software and services company offering customers productive business solutions through technology products and services. The Company serves customers in the architecture engineering and construction; manufacturing and digital media consumer and entertainment industries. The Company operates in four segments: Architecture Engineering and Construction (AEC) Platform Solutions and Emerging Business (PSEB) Manufacturing (MFG) and Media and Entertainment (M&E). The PSEB AEC and MFG segments offer a range of services including consulting support and training. The M&E segment offers software products to creative professionals post-production facilities and broadcasters for a variety of applications including feature films television programs commercials music and corporate videos interactive game production Web design and interactive Web streaming.

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