Johnson Investment Counsel Inc. Raises Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Johnson Investment Counsel Inc. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 920 shares of the software company’s stock after purchasing an additional 45 shares during the period. Johnson Investment Counsel Inc.’s holdings in Autodesk were worth $228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Autodesk during the 4th quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Autodesk during the first quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in Autodesk during the first quarter worth $25,000. LRI Investments LLC purchased a new position in Autodesk during the first quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter worth about $26,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADSK shares. Robert W. Baird lowered their price objective on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Oppenheimer lifted their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Bank of America increased their price objective on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Autodesk Price Performance

ADSK stock opened at $263.96 on Monday. 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 cap of $56.75 billion, a price-to-earnings ratio of 57.13, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The business has a fifty day moving average of $248.36 and a two-hundred day moving average of $239.09.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. As a group, research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity

In related news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 17,099 shares of the company’s stock, valued at $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,212 shares of company stock valued at $9,900,277. Company insiders own 0.14% of the company’s stock.

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.