Price T Rowe Associates Inc. MD Has $57.61 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Price T Rowe Associates Inc. MD lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,415 shares of the software company’s stock after purchasing an additional 5,852 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Autodesk were worth $57,613,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. TD Capital Management LLC bought a new position in Autodesk in the third quarter valued at approximately $30,000. Resources Management Corp CT ADV lifted its holdings in shares of Autodesk by 1,100.0% in the second quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock valued at $31,000 after purchasing an additional 165 shares in the last quarter. CNB Bank grew its holdings in shares of Autodesk by 107.9% during the second quarter. CNB Bank now owns 185 shares of the software company’s stock worth $32,000 after buying an additional 96 shares in the last quarter. First Manhattan Co. raised its position in Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after buying an additional 120 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in Autodesk by 189.2% in the 3rd quarter. Riverview Trust Co now owns 188 shares of the software company’s stock valued at $35,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 87.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADSK shares. Royal Bank of Canada lifted their price target on shares of Autodesk from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Moffett Nathanson dropped their target price on Autodesk to $177.00 in a report on Thursday, November 24th. Credit Suisse Group decreased their price target on Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. Mizuho increased their price objective on Autodesk from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Finally, Citigroup lowered their target price on shares of Autodesk from $277.00 to $256.00 and set a “buy” rating on the stock in a report on Friday, November 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.40.

Insider Transactions at Autodesk

In related news, CFO Deborah Clifford sold 1,557 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $205.71, for a total value of $320,290.47. Following the completion of the transaction, the chief financial officer now owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Autodesk news, Director Ayanna Howard sold 410 shares of the business’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $184.49, for a total transaction of $75,640.90. Following the completion of the transaction, the director now owns 4,600 shares of the company’s stock, valued at $848,654. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Deborah Clifford sold 1,557 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $205.71, for a total transaction of $320,290.47. Following the completion of the sale, the chief financial officer now owns 19,609 shares in the company, valued at $4,033,767.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,717 shares of company stock valued at $746,462. 0.11% of the stock is owned by corporate insiders.

Autodesk Stock Performance

NASDAQ ADSK opened at $197.87 on Tuesday. The firm has a 50-day moving average price of $207.58 and a two-hundred day moving average price of $202.54. Autodesk, Inc. has a 12-month low of $163.20 and a 12-month high of $235.01. The company has a market capitalization of $42.69 billion, a P/E ratio of 52.35, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a quick ratio of 0.73, a current ratio of 0.84 and a debt-to-equity ratio of 1.99.

Autodesk (NASDAQ:ADSK – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.05. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts anticipate that Autodesk, Inc. will post 4.5 earnings per share for the current year.

Autodesk announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the software company to buy up to 11.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About Autodesk

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.