Congress Asset Management Co. Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Congress Asset Management Co. lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 8,504 shares of the software company’s stock after selling 356 shares during the period. Congress Asset Management Co.’s holdings in Autodesk were worth $2,343,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADSK. Price T Rowe Associates Inc. MD lifted its position in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Up 1.0 %

Shares of ADSK opened at $286.57 on Friday. The company’s 50-day moving average price is $271.79 and its 200 day moving average price is $245.24. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $294.13. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market cap of $61.61 billion, a P/E ratio of 58.60, a price-to-earnings-growth ratio of 3.67 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,200,929 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BMO Capital Markets boosted their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Oppenheimer increased their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada upped their target price on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Piper Sandler raised their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $292.95.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.