WCG Wealth Advisors LLC Buys Shares of 11,885 Autodesk, Inc. (NASDAQ:ADSK)

WCG Wealth Advisors LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,885 shares of the software company’s stock, valued at approximately $2,941,000.

Several other large investors also recently modified their holdings of ADSK. Mesirow Financial Investment Management Inc. increased its holdings in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after purchasing an additional 45 shares in the last quarter. Beacon Financial Group raised its holdings in Autodesk by 4.1% in the 4th quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock worth $304,000 after purchasing an additional 49 shares during the period. First Affirmative Financial Network lifted its position in Autodesk by 2.8% during the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock valued at $469,000 after purchasing an additional 49 shares in the last quarter. Finally, InTrack Investment Management Inc grew its holdings in Autodesk by 2.3% during the second quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock valued at $542,000 after purchasing an additional 49 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $264.21 on Thursday. The firm has a fifty day simple moving average of $249.56 and a two-hundred day simple moving average of $239.35. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $56.94 billion, a P/E ratio of 57.19, a PEG ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. On average, analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Rosenblatt Securities increased their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Bank of America lifted their target price on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus increased their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,762 shares of company stock worth $10,046,302. Company insiders own 0.14% of the company’s stock.

Autodesk 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.