Synovus Financial Corp Purchases 421 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Synovus Financial Corp boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,785 shares of the software company’s stock after purchasing an additional 421 shares during the period. Synovus Financial Corp’s holdings in Autodesk were worth $3,522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADSK. Marshall Financial Group LLC raised its holdings in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares in the last quarter. Avitas Wealth Management LLC raised its stake in Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after acquiring an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Autodesk by 5.1% during the 2nd 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 last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

Shares of Autodesk stock opened at $303.77 on Friday. The company has a market cap of $65.31 billion, a P/E ratio of 60.27, a PEG ratio of 3.62 and a beta of 1.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $296.76 and a two-hundred day moving average price of $263.94. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value 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. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock worth $549,333 in the last quarter. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research reports. UBS Group assumed coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Macquarie started coverage on Autodesk in a research note on Thursday. They issued an “outperform” rating and a $380.00 price target for the company. Mizuho boosted their price objective on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada increased their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Oppenheimer lifted their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.05.

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.