Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,371 shares of the software company’s stock after purchasing an additional 334 shares during the period. Procyon Advisors LLC’s holdings in Autodesk were worth $6,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jag Capital Management LLC purchased a new position in shares of Autodesk in the 3rd quarter worth $13,861,000. LMR Partners LLP purchased a new position in Autodesk in the 3rd quarter worth approximately $12,643,000. Starboard Value LP acquired a new stake in Autodesk in the third quarter valued at approximately $510,189,000. Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the third quarter valued at approximately $20,087,000. Finally, Bank of Montreal Can raised its stake in shares of Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after purchasing an additional 73,363 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Mizuho lifted their target price on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Barclays increased their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. Finally, Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

Autodesk Price Performance

NASDAQ ADSK opened at $290.08 on Friday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $62.37 billion, a PE ratio of 57.56, a P/E/G ratio of 3.36 and a beta of 1.42. The stock has a 50-day simple moving average of $301.03 and a 200 day simple moving average of $274.97.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company earned $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

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.