Promethos Capital LLC Invests $3.35 Million in Autodesk, Inc. (NASDAQ:ADSK)

Promethos Capital LLC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,517 shares of the software company’s stock, valued at approximately $3,345,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TD Asset Management Inc lifted its stake in Autodesk by 153.0% during the fourth quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after buying an additional 232,441 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Autodesk by 58.0% in 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in 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 during the period. Meyer Handelman Co. purchased a new position in Autodesk during the 1st quarter worth approximately $903,000. Finally, Caxton Associates LP raised its stake in Autodesk by 1,353.8% during the 4th 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 during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Trading Up 2.1 %

Autodesk stock opened at $269.76 on Friday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company’s fifty day moving average price is $249.98 and its two-hundred day moving average price is $239.56. 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 company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADSK shares. Barclays raised their target price on Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley upped their target price on Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and increased their price target for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Mizuho boosted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Seven research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $292.17.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. The disclosure for this sale can be found here. Insiders have sold a total of 38,762 shares of company stock valued at $10,046,302 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

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.