Tandem Capital Management Corp ADV Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Tandem Capital Management Corp ADV purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,909 shares of the software company’s stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ADSK. Pinnacle Associates Ltd. bought a new position in Autodesk in the 3rd quarter worth $307,000. First Trust Direct Indexing L.P. grew its position in shares of Autodesk by 22.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,609 shares of the software company’s stock worth $2,647,000 after buying an additional 1,734 shares during the period. Avitas Wealth Management LLC grew its position in shares of Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after buying an additional 42 shares during the period. Fidelis Capital Partners LLC grew its position in shares of Autodesk by 4.3% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,782 shares of the software company’s stock worth $510,000 after buying an additional 73 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Autodesk by 111.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,734 shares of the software company’s stock worth $753,000 after buying an additional 1,438 shares during the period. Institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 of the company’s stock, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,200,929 over the last quarter. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ADSK shares. Stifel Nicolaus increased their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets raised their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Piper Sandler raised their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Stock Performance

Shares of Autodesk stock opened at $288.82 on Thursday. The company has a market capitalization of $62.24 billion, a PE ratio of 62.52, a P/E/G ratio of 3.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50-day simple moving average of $270.48 and a two-hundred day simple moving average of $244.57. Autodesk, Inc. has a one year low of $192.01 and a one year high of $294.13.

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

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.