Meyer Handelman Co. Purchases New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Meyer Handelman Co. purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,467 shares of the software company’s stock, valued at approximately $903,000.

A number of other large investors also recently bought and sold shares of ADSK. First Affirmative Financial Network raised its position in Autodesk by 2.8% during the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after buying an additional 49 shares during the last quarter. Aprio Wealth Management LLC raised its position in Autodesk by 12.8% during the 1st quarter. Aprio Wealth Management LLC now owns 1,771 shares of the software company’s stock worth $461,000 after buying an additional 201 shares during the last quarter. Wedmont Private Capital raised its position in Autodesk by 3.2% during the 1st quarter. Wedmont Private Capital now owns 3,384 shares of the software company’s stock worth $839,000 after buying an additional 105 shares during the last quarter. Czech National Bank raised its position in Autodesk by 0.5% during the 1st quarter. Czech National Bank now owns 37,638 shares of the software company’s stock worth $9,802,000 after buying an additional 199 shares during the last quarter. Finally, Thomasville National Bank raised its position in Autodesk by 4.6% during the 1st quarter. Thomasville National Bank now owns 63,148 shares of the software company’s stock worth $16,445,000 after buying an additional 2,753 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the sale, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the transaction, the chief financial officer now directly owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. Insiders sold 47,501 shares of company stock valued at $11,714,162 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Down 0.5 %

NASDAQ ADSK opened at $242.31 on Friday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company’s 50 day moving average price is $218.80 and its 200 day moving average price is $238.43. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $52.22 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 3.26 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Autodesk, Inc. will post 5.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADSK. StockNews.com downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group upped their price target on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Berenberg Bank cut shares of 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. Citigroup upped their price target on shares of Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, KeyCorp lowered their price target on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $262.42.

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.