Concord Wealth Partners Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Concord Wealth Partners bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 103 shares of the software company’s stock, valued at approximately $28,000.

Other large investors have also made changes to their positions in the company. Brookstone Capital Management boosted its stake in Autodesk by 9.5% in the first quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock valued at $362,000 after acquiring an additional 121 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Autodesk in the 1st quarter worth $212,000. Congress Wealth Management LLC DE boosted its position in shares of Autodesk by 3.1% in the 1st quarter. Congress Wealth Management LLC DE now owns 11,922 shares of the software company’s stock worth $3,105,000 after purchasing an additional 361 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Autodesk by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 23,208 shares of the software company’s stock worth $6,043,000 after purchasing an additional 120 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Autodesk by 12.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,529 shares of the software company’s stock worth $1,700,000 after purchasing an additional 734 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent research reports. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Citigroup set a $325.00 price target on Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on Autodesk in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. Finally, Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Stock Performance

Shares of Autodesk stock opened at $289.66 on Wednesday. The firm has a market cap of $62.42 billion, a price-to-earnings ratio of 62.70, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48. The stock’s 50-day moving average is $269.75 and its 200-day moving average is $244.26. Autodesk, Inc. has a one year low of $192.01 and a one year high of $294.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

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

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the business’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 value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by insiders.

Autodesk Company 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.