Verdence Capital Advisors LLC Invests $230,000 in Autodesk, Inc. (NASDAQ:ADSK)

Verdence Capital Advisors LLC bought 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 and Exchange Commission (SEC). The institutional investor bought 836 shares of the software company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Empowered Funds LLC boosted its position in shares of Autodesk by 23.4% during the first quarter. Empowered Funds LLC now owns 3,457 shares of the software company’s stock worth $900,000 after purchasing an additional 656 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Autodesk in the first quarter worth about $253,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Autodesk by 169.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,253 shares of the software company’s stock valued at $586,000 after purchasing an additional 1,416 shares in the last quarter. QRG Capital Management Inc. increased its stake in Autodesk by 6.2% during the 1st quarter. QRG Capital Management Inc. now owns 10,005 shares of the software company’s stock worth $2,606,000 after purchasing an additional 581 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in Autodesk by 9.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock worth $369,000 after buying an additional 122 shares during the period. Institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ADSK shares. Stifel Nicolaus raised their price objective on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup set a $325.00 price objective on Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. Oppenheimer lifted their target price on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. Finally, Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.95.

Insider Activity

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the company’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 sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,280 shares of company stock worth $5,200,929. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $309.73 on Wednesday. The firm has a market cap of $66.59 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 3.88 and a beta of 1.47. The business’s 50 day moving average is $277.06 and its 200-day moving average is $249.18. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $314.70.

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