Westpac Banking Corp increased its position in Autodesk, Inc. (NASDAQ: ADSK – Get a rating) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company held 22,200 shares of the software company after buying an additional 872 shares during the period. Westpac Banking Corp’s holdings in Autodesk were worth $4,759,000 when it last filed with the Securities & Exchange Commission.
Other hedge funds have also recently increased or reduced their stakes in the company. Allworth Financial LP increased its position in Autodesk by 237.7% in the first quarter. Allworth Financial LP now owns 645 shares of the software company valued at $138,000 after buying an additional 454 shares during the period. IFM Investors Pty Ltd increased its stake in Autodesk by 26.5% in the first quarter. IFM Investors Pty Ltd now owns 36,072 shares in the software company valued at $7,732,000 after buying an additional 7,557 shares last quarter. Edge Capital Group LLC increased its stake in Autodesk to 96.0% in the first quarter. Edge Capital Group LLC now owns 2,101 shares of the software company valued at $450,000 after buying an additional 1,029 shares last quarter. Westwood Holdings Group Inc. increased its stake in Autodesk to 70.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 19,580 shares of the software company valued at $5,506,000 after buying an additional 8,070 shares last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Autodesk in the first quarter, valued at around $64,000. Institutional investors and hedge funds hold 89.55% of the company’s shares.
Autodesk stock down 2.7%
Shares of ADSK opened at $222.59 on Monday. The company has a market capitalization of $48.36 billion, a PE ratio of 101.18, a growth price-earnings ratio of 2.69 and a beta of 1.53. The company’s fifty-day moving average is $194.37 and its two-hundred-day moving average is $201.73. Autodesk, Inc. has a fifty-two week low of $163.20 and a fifty-two week high of $344.39. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt ratio of 3.35.
Autodesk (NASDAQ: ADSK – Get a rating) last announced its quarterly results on Thursday, May 26. The software company reported earnings per share of $0.87 for the quarter, beating consensus analyst estimates of $0.77 by $0.10. The company posted revenue of $1.17 billion for the quarter, versus analyst estimates of $1.15 billion. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. Autodesk’s revenue for the quarter increased 18.3% year-on-year. In the same quarter last year, the company achieved EPS of $1.03. Analysts expect Autodesk, Inc. to post earnings per share of 3.99 for the current year.
Wall Street analysts predict growth
ADSK has been the subject of a number of research analyst reports. Robert W. Baird raised his price target on Autodesk shares from $260.00 to $264.00 and gave the company an “outperform” rating in a Wednesday, Aug. 17 report. StockNews.com moved Autodesk shares from a “hold” rating to a “buy” rating in a Thursday, June 2 report. Barclays raised its price target on Autodesk shares from $216.00 to $263.00 and gave the stock an “overweight” rating in a research note on Friday. Credit Suisse Group lowered its price target on Autodesk shares from $440.00 to $335.00 and set an “na” rating for the company in a Tuesday, May 17 research note. Finally, Stifel Nicolaus raised his price target on Autodesk shares from $230.00 to $270.00 in a research note on Friday. One analyst rated the stock with a sell rating, four issued a hold rating and seventeen assigned the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $268.52.
Insider Buying and Selling at Autodesk
In other Autodesk news, EVP Rebecca Pearce sold 1,608 shares of Autodesk in a trade on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total value of $334,238.88. Following the transaction, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. In related news, CAD Stephen W. Hope sold 327 shares of Autodesk in a trade on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total transaction of $58,019.61. As a result of the transaction, the accounting chief now owns 4,186 shares of the company, valued at approximately $742,721.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, VPE Rebecca Pearce sold 1,608 shares of Autodesk in a trade on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total transaction of $334,238.88. Following the transaction, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. Disclosure of this sale can be found here. 0.11% of the shares are held by insiders of the company.
Autodesk Company Profile
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.
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