Meiji Yasuda Asset Management Co Ltd. Has $901,000 Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,823 shares of the software company’s stock after buying an additional 114 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Autodesk were worth $901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SRS Capital Advisors Inc. grew its position in shares of Autodesk by 346.9% during the 2nd quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares in the last quarter. Natixis Investment Managers International grew its position in shares of Autodesk by 126.5% during the 2nd quarter. Natixis Investment Managers International now owns 8,677 shares of the software company’s stock worth $1,492,000 after purchasing an additional 4,846 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of Autodesk by 4.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 2,564 shares of the software company’s stock worth $441,000 after purchasing an additional 114 shares in the last quarter. Avitas Wealth Management LLC acquired a new position in shares of Autodesk during the 3rd quarter worth approximately $783,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Autodesk during the 3rd quarter worth approximately $7,152,000. Institutional investors and hedge funds own 87.89% of the company’s stock.

Insider Activity

In other news, CFO Deborah Clifford sold 1,557 shares of the firm’s stock in a transaction 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 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ayanna Howard sold 410 shares of the stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total transaction of $75,640.90. Following the completion of the sale, the director now directly owns 4,600 shares in the company, valued at $848,654. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Deborah Clifford sold 1,557 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $205.71, for a total transaction of $320,290.47. Following the sale, the chief financial officer now owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,717 shares of company stock valued at $746,462. Insiders own 0.11% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $199.22 on Wednesday. The company has a market cap of $42.99 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.79 and a beta of 1.51. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.84 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $207.86 and a 200 day simple moving average of $202.48. Autodesk, Inc. has a one year low of $163.20 and a one year high of $235.01.

Autodesk (NASDAQ:ADSK – Get Rating) last released 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. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Research analysts predict that Autodesk, Inc. will post 4.5 earnings per share for the current fiscal year.

Autodesk announced that its board has authorized a stock buyback program on Tuesday, November 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the software company to repurchase up to 11.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $235.00 target price on shares of Autodesk in a research report on Thursday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $203.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, February 27th. Credit Suisse Group reduced their price target on shares of Autodesk from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. Mizuho increased their price target on shares of Autodesk from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Finally, KeyCorp increased their price target on shares of Autodesk from $237.00 to $244.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $232.40.

Autodesk Company Profile

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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.