Haverford Trust Co Grows Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Haverford Trust Co increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 8.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,453 shares of the software company’s stock after acquiring an additional 111 shares during the quarter. Haverford Trust Co’s holdings in Autodesk were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after acquiring an additional 363,565 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Autodesk by 263.6% during the first 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 purchasing an additional 4,563,668 shares during the period. Ninety One UK Ltd increased its position in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Autodesk by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after buying an additional 81,314 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. Morgan Stanley reissued an “overweight” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, September 30th. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America upped their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Rosenblatt Securities boosted their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup set a $325.00 target price on Autodesk and gave the company a “buy” rating in a research note on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Trading Down 2.1 %

Shares of ADSK opened at $306.65 on Friday. The firm has a market capitalization of $65.93 billion, a price-to-earnings ratio of 62.71, a PEG ratio of 3.93 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $315.73. The company has a 50-day moving average of $279.25 and a 200 day moving average of $250.27.

Autodesk (NASDAQ:ADSK) last announced 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, research analysts expect that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Activity

In related news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,730 shares of company stock worth $5,064,430. Company insiders own 0.14% of the company’s stock.

Autodesk Company Profile

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.