JGP Wealth Management LLC Makes New $899,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

JGP Wealth Management LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, Holdings Channel reports. The institutional investor acquired 3,265 shares of the software company’s stock, valued at approximately $899,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd lifted its stake in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. FIL Ltd increased its position in Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after purchasing an additional 81,314 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,183,340 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Autodesk stock traded up $4.26 during mid-day trading on Friday, reaching $281.97. 448,636 shares of the company were exchanged, compared to its average volume of 1,607,691. 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 12 month low of $192.01 and a 12 month high of $282.54. The firm has a market cap of $60.62 billion, a PE ratio of 56.79, a PEG ratio of 3.52 and a beta of 1.48. The company has a fifty day simple moving average of $257.64 and a 200-day simple moving average of $241.01.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADSK shares. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Morgan Stanley reissued an “overweight” rating and set a $320.00 price objective on shares of Autodesk in a report on Monday, September 30th. Finally, Piper Sandler boosted their price target on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.