Federated Hermes Inc. Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Federated Hermes Inc. raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 1,473.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,163 shares of the software company’s stock after acquiring an additional 15,136 shares during the quarter. Federated Hermes Inc.’s holdings in Autodesk were worth $4,000,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. TD Asset Management Inc boosted its holdings in shares of Autodesk by 153.0% in the fourth 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 during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Autodesk by 58.0% during the 4th 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 during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Autodesk by 12.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock worth $17,991,000 after purchasing an additional 8,456 shares in the last quarter. Meyer Handelman Co. bought a new position in Autodesk in the 1st quarter worth $903,000. Finally, Caxton Associates LP lifted its position in Autodesk by 1,353.8% during the fourth quarter. Caxton Associates LP now owns 97,026 shares of the software company’s stock valued at $23,624,000 after purchasing an additional 90,352 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Down 1.0 %

NASDAQ ADSK opened at $264.21 on Thursday. The stock has a 50 day moving average price of $249.56 and a 200-day moving average price of $239.35. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company has a market capitalization of $56.94 billion, a P/E ratio of 57.19, a P/E/G ratio of 3.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

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

Insider Activity

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now directly owns 31,016 shares in the company, valued at $7,857,283.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,762 shares of company stock valued at $10,046,302. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ADSK shares. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Rosenblatt Securities raised their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Berenberg Bank increased their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Oppenheimer raised their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Robert W. Baird dropped their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.17.

Autodesk 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.