Coronation Fund Managers Ltd. Purchases 4,813 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Coronation Fund Managers Ltd. boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 96.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,785 shares of the software company’s stock after purchasing an additional 4,813 shares during the period. Coronation Fund Managers Ltd.’s holdings in Autodesk were worth $2,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Meyer Handelman Co. bought a new position in shares of Autodesk during the 1st quarter valued at about $903,000. TD Asset Management Inc boosted its holdings in shares of Autodesk by 13.0% in the first quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock valued at $113,128,000 after buying an additional 50,027 shares during the period. Caxton Associates LP increased its position in shares of Autodesk by 1,353.8% during the fourth quarter. Caxton Associates LP now owns 97,026 shares of the software company’s stock worth $23,624,000 after acquiring an additional 90,352 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Autodesk by 10.9% during the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock worth $13,097,000 after acquiring an additional 4,932 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Autodesk by 33.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,680 shares of the software company’s stock valued at $7,713,000 after acquiring an additional 7,999 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,973 shares of company stock worth $10,106,590. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Mizuho increased their target price on Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Bank of America upped their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Eight 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $270.17 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $58.22 billion, a P/E ratio of 58.48, a P/E/G ratio of 3.41 and a beta of 1.48. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The stock has a 50 day moving average of $254.08 and a 200-day moving average of $240.36.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 18.21% and a return on equity of 59.41%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, equities research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

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.