Argent Trust Co Purchases 877 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Argent Trust Co grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,925 shares of the software company’s stock after acquiring an additional 877 shares during the quarter. Argent Trust Co’s holdings in Autodesk were worth $1,714,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. boosted its stake in Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares in the last quarter. Beacon Financial Group grew its holdings in shares of Autodesk by 4.1% during the 4th quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock valued at $304,000 after purchasing an additional 49 shares during the last quarter. First Affirmative Financial Network increased its position in Autodesk by 2.8% during the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after purchasing an additional 49 shares in the last quarter. Finally, InTrack Investment Management Inc lifted its stake in Autodesk by 2.3% in the 2nd quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock valued at $542,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $264.21 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a fifty day moving average of $249.56 and a 200-day moving average of $239.35. The firm has a market capitalization of $56.94 billion, a P/E ratio of 57.19, a P/E/G ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the business’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 directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,762 shares of company stock valued at $10,046,302. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Stifel Nicolaus raised their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Rosenblatt Securities raised their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $292.17.

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.