Procyon Advisors LLC Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Procyon Advisors LLC raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,103 shares of the software company’s stock after buying an additional 513 shares during the period. Procyon Advisors LLC’s holdings in Autodesk were worth $5,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Autodesk during the 4th quarter worth approximately $426,374,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Autodesk by 480.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after purchasing an additional 1,477,770 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Autodesk by 5.8% in the 2nd quarter. BlackRock Inc. now owns 18,086,689 shares of the software company’s stock valued at $3,700,717,000 after purchasing an additional 989,144 shares in the last quarter. Meritage Group LP purchased a new position in shares of Autodesk in the 3rd quarter valued at about $170,972,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Autodesk by 4,112.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock valued at $92,292,000 after purchasing an additional 435,457 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on ADSK shares. Citigroup upped their price target on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. Piper Sandler increased their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Bank Of America (Bofa) increased their target price on Autodesk from $235.00 to $240.00 in a research report on Monday, December 11th. The Goldman Sachs Group increased their target price on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets lifted their price target on shares of Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $270.78.

Autodesk Stock Performance

Shares of ADSK stock traded up $0.97 during trading hours on Thursday, reaching $261.94. The stock had a trading volume of 67,717 shares, compared to its average volume of 1,286,352. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53. The firm has a 50-day simple moving average of $256.36 and a 200-day simple moving average of $231.31. The firm has a market capitalization of $56.03 billion, a PE ratio of 61.99, a price-to-earnings-growth ratio of 3.60 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. As a group, equities analysts forecast that Autodesk, Inc. will post 5.37 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith sold 7,554 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $244.00, for a total value of $1,843,176.00. Following the completion of the transaction, the director now owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mary T. Mcdowell sold 5,000 shares of Autodesk stock in a transaction on Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the sale, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stacy J. Smith sold 7,554 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $244.00, for a total value of $1,843,176.00. Following the sale, the director now directly owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,332 shares of company stock valued at $4,671,607. 0.14% of the stock is currently owned by corporate insiders.

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.