Industrial Alliance Investment Management Inc. Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Industrial Alliance Investment Management Inc. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,455 shares of the software company’s stock after acquiring an additional 406 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Autodesk were worth $2,513,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TD Capital Management LLC bought a new stake in Autodesk in the third quarter valued at $30,000. First Manhattan Co. raised its position in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after acquiring an additional 120 shares in the last quarter. Riverview Trust Co lifted its stake in shares of 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 purchasing an additional 123 shares during the period. Worth Asset Management LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $36,000. Finally, SRS Capital Advisors Inc. grew its stake in Autodesk by 346.9% in the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares during the period. Institutional investors own 87.89% of the company’s stock.

Analyst Ratings Changes

ADSK has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Credit Suisse Group cut their price objective on shares of Autodesk from $325.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Berenberg Bank began coverage on shares of Autodesk in a report on Wednesday, January 11th. They set a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut their price target on Autodesk from $203.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $235.00 price objective on shares of Autodesk in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.40.

Insider Buying and Selling

In other Autodesk news, Director Ayanna Howard sold 410 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $848,654. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Stephen W. Hope sold 394 shares of Autodesk stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $195.66, for a total transaction of $77,090.04. Following the transaction, the chief accounting officer now directly owns 3,074 shares of the company’s stock, valued at approximately $601,458.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ayanna Howard sold 410 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 4,600 shares of the company’s stock, valued at $848,654. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,717 shares of company stock valued at $746,462. 0.11% of the stock is owned by insiders.

Autodesk Price Performance

Shares of ADSK opened at $200.59 on Friday. The firm has a fifty day simple moving average of $208.39 and a two-hundred day simple moving average of $202.42. The firm has a market cap of $43.28 billion, a PE ratio of 53.07, a P/E/G ratio of 1.83 and a beta of 1.51. The company has a current ratio of 0.84, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a 1-year low of $163.20 and a 1-year high of $235.01.

Autodesk (NASDAQ:ADSK – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. Autodesk’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities analysts anticipate that Autodesk, Inc. will post 4.49 EPS for the current year.

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

Autodesk Company Profile

(Get Rating)

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.