Argent Trust Co Purchases 877 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Argent Trust Co increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,925 shares of the software company’s stock after acquiring an additional 877 shares during the period. Argent Trust Co’s holdings in Autodesk were worth $1,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ADSK. Mesirow Financial Investment Management Inc. grew its position in shares of Autodesk by 1.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after acquiring an additional 44 shares during the period. Johnson Investment Counsel Inc. grew its holdings in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares during the period. Beacon Financial Group increased its position in Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock worth $304,000 after buying an additional 49 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of Autodesk by 2.8% in the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock valued at $469,000 after buying an additional 49 shares during the period. Finally, InTrack Investment Management Inc lifted its position in shares of Autodesk by 2.3% during the 2nd quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock valued at $542,000 after buying an additional 49 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Down 1.0 %

Shares of Autodesk stock opened at $264.21 on Thursday. 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, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The firm has a market cap of $56.94 billion, a PE ratio of 57.19, a PEG ratio of 3.29 and a beta of 1.48. The company has a 50 day simple moving average of $249.56 and a two-hundred day simple moving average of $239.35.

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

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now directly owns 31,016 shares in the company, valued at approximately $7,857,283.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Steven M. Blum sold 19,693 shares of the business’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 value 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 approximately $8,610,750. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now directly owns 31,016 shares in the company, valued at approximately $7,857,283.28. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock valued at $10,046,302 over the last 90 days. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADSK shares. Mizuho increased their target price on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Oppenheimer raised their price objective on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Morgan Stanley increased their target price on Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Robert W. Baird reduced their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

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.