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 $233,746,769 after selling 271,886 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Autodesk makes up approximately 6.80% of Lateef Investment Management’s portfolio.

Other Hedge Funds, Including , Sunriver Management added ADSK to its portfolio by purchasing 198,730 company shares during the most recent quarter which is valued at $12,287,476. Autodesk makes up approx 4.28% of Sunriver Management’s portfolio. Vantage Investment Advisors added ADSK to its portfolio by purchasing 50 company shares during the most recent quarter which is valued at $3,092.Canada Pension Plan Investment Board boosted its stake in ADSK in the latest quarter, The investment management firm added 23,287 additional shares and now holds a total of 92,411 shares of Autodesk which is valued at $5,713,772. Autodesk makes up approx 0.02% of Canada Pension Plan Investment Board’s portfolio. Quantitative Investment Management added ADSK to its portfolio by purchasing 13,900 company shares during the most recent quarter which is valued at $805,505. Autodesk makes up approx 0.04% of Quantitative Investment Management’s portfolio. Herndon Capital Management added ADSK to its portfolio by purchasing 21 company shares during the most recent quarter which is valued at $1,248.

Autodesk closed down -0.03 points or -0.04% at $67.37 with 12,99,821 shares getting traded on Thursday. Post opening the session at $67.42, the shares hit an intraday low of $66.78 and an intraday high of $67.67 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Rosenblatt Downgraded Autodesk on Aug 30, 2016 to ” Sell”, Price Target of the shares are set at $54.Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .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 .

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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