Verdence Capital Advisors LLC Purchases 215 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Verdence Capital Advisors LLC lifted its position in Autodesk, Inc. (NASDAQ:ADSK) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,798 shares of the software company’s stock after acquiring an additional 215 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Autodesk were worth $925,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Autodesk during the fourth quarter valued at approximately $28,000. AdvisorNet Financial Inc grew its position in Autodesk by 67.1% in the 4th quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after acquiring an additional 57 shares during the last quarter. First Manhattan Co. grew 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 acquiring an additional 120 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in Autodesk by 140.6% in the first quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the software company’s stock worth $35,000 after purchasing an additional 97 shares during the period. Finally, Operose Advisors LLC bought a new stake in shares of Autodesk during the third quarter worth $35,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. In the last three months, insiders sold 36,166 shares of company stock worth $9,465,055. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. KeyCorp boosted their price target on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. StockNews.com raised Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Thursday. TheStreet raised Autodesk from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Finally, Citigroup increased their price target on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Up 2.8 %

Autodesk stock opened at $216.50 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a market capitalization of $46.31 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.98 and a beta of 1.43. The business has a 50 day simple moving average of $251.86 and a 200-day simple moving average of $235.39. Autodesk, Inc. has a 12 month low of $188.38 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Autodesk Company 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.