Probity Advisors Inc. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Probity Advisors Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, HoldingsChannel.com reports. The fund acquired 819 shares of the software company’s stock, valued at approximately $226,000.

Other hedge funds have also made changes to their positions in the company. Meyer Handelman Co. acquired a new position in shares of Autodesk during the 1st quarter valued at about $903,000. TD Asset Management Inc boosted its stake in Autodesk by 13.0% during the 1st quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock valued at $113,128,000 after purchasing an additional 50,027 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its stake in Autodesk by 10.9% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock valued at $13,097,000 after purchasing an additional 4,932 shares during the period. Cetera Investment Advisers boosted its stake in Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares during the period. Finally, Primecap Management Co. CA boosted its stake in Autodesk by 8.2% during the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after purchasing an additional 49,500 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $320.00 target price on shares of Autodesk in a research note on Monday, September 30th. Bank of America increased their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Oppenheimer increased their target price on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Mizuho increased their target price on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,200,929 in the last 90 days. 0.14% of the stock is owned by company insiders.

Autodesk Price Performance

Autodesk stock opened at $290.57 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $62.62 billion, a PE ratio of 62.89, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a one year low of $192.01 and a one year high of $292.88. The business has a 50 day simple moving average of $263.05 and a 200 day simple moving average of $241.90.

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