Connor Clark & Lunn Investment Management Ltd. Has $4.96 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 89.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,020 shares of the software company’s stock after selling 151,288 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Autodesk were worth $4,964,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADSK. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the first quarter valued at about $25,000. LRI Investments LLC bought a new stake in Autodesk in the 1st quarter valued at approximately $26,000. Olistico Wealth LLC acquired a new position in Autodesk during the 2nd quarter worth approximately $26,000. Pacifica Partners Inc. grew its stake in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the third quarter valued at approximately $27,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. DA Davidson assumed coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price target for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Citigroup upped their price objective on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Up 1.9 %

Shares of ADSK opened at $321.27 on Friday. 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, Inc. has a 52 week low of $195.32 and a 52 week high of $321.90. The stock has a market capitalization of $69.07 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 4.03 and a beta of 1.47. The stock has a fifty day moving average of $286.44 and a 200-day moving average of $254.89.

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

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 in the last three months. Insiders own 0.14% of the company’s stock.

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.