Axxcess Wealth Management LLC Makes New $304,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

Axxcess Wealth Management LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,249 shares of the software company’s stock, valued at approximately $304,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in shares of Autodesk by 86.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock worth $1,959,000 after purchasing an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Autodesk during the third quarter valued at approximately $330,000. abrdn plc raised its holdings in shares of Autodesk by 26.2% during the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after acquiring an additional 95,723 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Autodesk during the fourth quarter valued at approximately $7,280,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Autodesk by 3,539.1% during the fourth quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock valued at $55,370,000 after acquiring an additional 221,161 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the sale, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The disclosure for this sale can be found here. Insiders sold 36,166 shares of company stock worth $9,465,055 in the last quarter. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of Autodesk stock opened at $213.95 on Thursday. 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 fifty-two week low of $190.95 and a fifty-two week high of $279.53. The firm has a fifty day moving average price of $241.58 and a two-hundred day moving average price of $235.84. The company has a market cap of $46.10 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

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, beating analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. Analysts expect that Autodesk, Inc. will post 5.38 EPS for the current year.

Analysts Set New Price Targets

ADSK has been the topic of a number of recent analyst reports. Citigroup boosted 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. Mizuho boosted their price objective on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays boosted their price objective on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $316.00 price objective on shares of Autodesk in a research report on Friday, April 12th. Finally, BMO Capital Markets boosted their price objective 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 analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $274.67.

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.