Trust Co of the South Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Trust Co of the South acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,092 shares of the software company’s stock, valued at approximately $323,000.

Several other institutional investors also recently modified their holdings of ADSK. Jag Capital Management LLC acquired a new stake in shares of Autodesk during the 3rd quarter valued at about $13,861,000. LMR Partners LLP acquired a new position in shares of Autodesk during the 3rd quarter worth about $12,643,000. Starboard Value LP bought a new stake in shares of Autodesk in the third quarter valued at approximately $510,189,000. Erste Asset Management GmbH bought a new position in shares of Autodesk during the 3rd quarter worth about $20,087,000. Finally, Bank of Montreal Can lifted its position in shares of Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after acquiring an additional 73,363 shares during the period. Institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $2.86 during midday trading on Thursday, reaching $292.71. 541,476 shares of the company were exchanged, compared to its average volume of 1,579,051. The stock’s 50-day moving average price is $300.59 and its 200-day moving average price is $271.61. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $62.93 billion, a P/E ratio of 58.08, a PEG ratio of 3.62 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research note on Friday, November 29th. Morgan Stanley boosted their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler lifted their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. UBS Group started coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Oppenheimer lifted their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $323.95.

About Autodesk

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.