Procyon Advisors LLC Has $6.91 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Procyon Advisors LLC increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,371 shares of the software company’s stock after purchasing an additional 334 shares during the quarter. Procyon Advisors LLC’s holdings in Autodesk were worth $6,908,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ADSK. Empirical Asset Management LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $1,355,000. Bouvel Investment Partners LLC increased its stake in shares of Autodesk by 0.5% during the fourth quarter. Bouvel Investment Partners LLC now owns 12,051 shares of the software company’s stock worth $3,562,000 after purchasing an additional 63 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Autodesk by 0.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 16,664 shares of the software company’s stock worth $4,925,000 after buying an additional 153 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Autodesk by 0.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,208 shares of the software company’s stock worth $3,608,000 after purchasing an additional 66 shares in the last quarter. Finally, Carolina Wealth Advisors LLC boosted its stake in shares of Autodesk by 277.8% in the fourth quarter. Carolina Wealth Advisors LLC now owns 835 shares of the software company’s stock valued at $247,000 after buying an additional 614 shares during the period. 90.24% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated 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 transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ADSK. BMO Capital Markets boosted their price objective on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Macquarie began coverage on shares of Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target for the company. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research note on Friday, November 29th. Oppenheimer upped their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, KeyCorp increased their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.05.

Autodesk Stock Performance

NASDAQ:ADSK opened at $290.08 on Friday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The business’s fifty day moving average is $301.03 and its 200 day moving average is $274.97. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $62.37 billion, a price-to-earnings ratio of 57.56, a PEG ratio of 3.36 and a beta of 1.42.

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

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.