Procyon Advisors LLC Acquires 513 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Procyon Advisors LLC increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,103 shares of the software company’s stock after buying an additional 513 shares during the quarter. Procyon Advisors LLC’s holdings in Autodesk were worth $5,382,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADSK. IFG Advisory LLC boosted its holdings in Autodesk by 2.6% in the fourth quarter. IFG Advisory LLC now owns 2,753 shares of the software company’s stock valued at $670,000 after acquiring an additional 71 shares during the last quarter. Columbia Trust Co 01012016 grew its holdings in Autodesk by 13.1% during the 4th quarter. Columbia Trust Co 01012016 now owns 4,355 shares of the software company’s stock worth $1,060,000 after acquiring an additional 503 shares during the period. PFG Investments LLC acquired a new stake in Autodesk during the 4th quarter worth about $360,000. Alhambra Investment Management LLC acquired a new stake in Autodesk during the 4th quarter worth about $649,000. Finally, New Millennium Group LLC acquired a new position in shares of Autodesk during the fourth quarter valued at about $728,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $240.28, for a total value of $132,154.00. Following the completion of the transaction, the director now owns 41,816 shares of the company’s stock, valued at approximately $10,047,548.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mary T. Mcdowell sold 2,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the sale, the director now owns 39,316 shares in the company, valued at $9,829,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $240.28, for a total transaction of $132,154.00. Following the sale, the director now owns 41,816 shares in the company, valued at approximately $10,047,548.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,332 shares of company stock valued at $4,671,607. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADSK shares. Barclays raised their target price on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Stifel Nicolaus increased their price objective on Autodesk from $265.00 to $316.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler increased their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Mizuho increased their price objective on Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their price target on shares of Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $270.78.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $0.97 during trading hours on Thursday, reaching $261.94. 67,717 shares of the stock traded hands, compared to its average volume of 1,286,352. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $56.03 billion, a P/E ratio of 61.99, a price-to-earnings-growth ratio of 3.60 and a beta of 1.43. The company’s 50-day simple moving average is $256.36 and its two-hundred day simple moving average is $231.31. Autodesk, Inc. has a 52-week low of $188.38 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Equities research analysts forecast that Autodesk, Inc. will post 5.37 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.