JGP Wealth Management LLC Purchases New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

JGP Wealth Management LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,265 shares of the software company’s stock, valued at approximately $899,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk during the fourth quarter worth $25,000. Concord Wealth Partners bought a new stake in Autodesk in the 1st quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in Autodesk in the 1st quarter valued at $25,000. LRI Investments LLC bought a new stake in Autodesk in the 1st quarter valued at $26,000. Finally, Olistico Wealth LLC bought a new stake in Autodesk in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Trading Up 1.5 %

NASDAQ ADSK traded up $4.26 during mid-day trading on Friday, reaching $281.97. 448,636 shares of the stock were exchanged, compared to its average volume of 1,607,691. Autodesk, Inc. has a one year low of $192.01 and a one year high of $282.54. 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 stock has a market cap of $60.62 billion, a P/E ratio of 56.79, a P/E/G ratio of 3.52 and a beta of 1.48. The stock has a 50 day simple moving average of $257.64 and a 200-day simple moving average of $241.01.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. On average, analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,183,340 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADSK. Berenberg Bank boosted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. BMO Capital Markets lifted their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Mizuho lifted their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Bank of America lifted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, HSBC upgraded shares of 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 note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $290.47.

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.