Cullen Frost Bankers Inc. Trims Position in Autodesk, Inc. (NASDAQ:ADSK)

Cullen Frost Bankers Inc. trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,074 shares of the software company’s stock after selling 110 shares during the period. Cullen Frost Bankers Inc.’s holdings in Autodesk were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ADSK. Manchester Capital Management LLC boosted its holdings in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after purchasing an additional 169 shares during the period. TD Asset Management Inc grew its position in shares of Autodesk by 153.0% during the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after buying an additional 232,441 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after acquiring an additional 6,481 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Autodesk by 12.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock valued at $17,991,000 after acquiring an additional 8,456 shares in the last quarter. Finally, Meyer Handelman Co. purchased a new stake in Autodesk in the first quarter worth about $903,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Performance

Shares of ADSK stock opened at $255.67 on Tuesday. The business has a fifty day moving average of $247.33 and a 200 day moving average of $239.00. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $54.97 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 3.18 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. During the same period last year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADSK shares. Mizuho boosted their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Barclays boosted their price objective on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Robert W. Baird dropped their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $292.17.

Insider Activity

In related news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Autodesk news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold 57,275 shares of company stock valued at $14,220,661 in the last ninety days. Insiders own 0.14% of the company’s stock.

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.