Intech Investment Management LLC Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Intech Investment Management LLC boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 376.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,592 shares of the software company’s stock after purchasing an additional 40,760 shares during the period. Intech Investment Management LLC’s holdings in Autodesk were worth $12,766,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the 1st quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the 1st quarter worth approximately $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk in the 4th quarter worth approximately $25,000. Finally, Olistico Wealth LLC bought a new stake in shares of Autodesk in the 2nd quarter worth approximately $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the transaction, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,762 shares of company stock valued at $10,046,302. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADSK shares. Stifel Nicolaus lifted their price objective on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley lifted their price target on Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Barclays lifted their price target on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Stock Down 0.9 %

Autodesk stock opened at $267.29 on Friday. The stock has a market cap of $57.60 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The stock has a fifty day moving average of $250.26 and a 200 day moving average of $239.61.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Autodesk 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.