Welch Group LLC Acquires New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Welch Group LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 801 shares of the software company’s stock, valued at approximately $209,000.

A number of other institutional investors have also made changes to their positions in ADSK. Vanguard Group Inc. grew its holdings in Autodesk by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,038,677 shares of the software company’s stock valued at $4,635,537,000 after buying an additional 310,081 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Autodesk by 1.2% in the 3rd quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock valued at $624,471,000 after buying an additional 35,105 shares during the last quarter. FIL Ltd grew its holdings in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the last quarter. Brown Advisory Inc. grew its holdings in Autodesk by 12.9% in the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock valued at $696,342,000 after buying an additional 327,144 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Autodesk by 1.7% during the 3rd quarter. Northern Trust Corp now owns 2,548,156 shares of the software company’s stock worth $527,239,000 after purchasing an additional 43,293 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stifel Nicolaus decreased their price objective on Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. KeyCorp decreased their price target on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. Berenberg Bank lowered Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price target on the stock. in a research note on Wednesday, May 1st. StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets decreased their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $262.42.

Autodesk Stock Down 0.2 %

Shares of NASDAQ:ADSK opened at $243.51 on Friday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company has a 50 day moving average of $218.70 and a 200-day moving average of $238.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $52.48 billion, a price-to-earnings ratio of 52.71, a P/E/G ratio of 3.26 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $1.55 EPS. Autodesk’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders sold a total of 47,501 shares of company stock worth $11,714,162 in the last quarter. 0.14% of the stock is owned by company insiders.

About Autodesk

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.