King Luther Capital Management Corp Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

King Luther Capital Management Corp acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 741 shares of the software company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ADSK. Ninety One UK Ltd raised its position in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the period. Legal & General Group Plc lifted its position in shares of Autodesk by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after buying an additional 81,314 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Autodesk by 4.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock valued at $491,673,000 after buying an additional 74,394 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Autodesk by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,632,195 shares of the software company’s stock worth $403,887,000 after acquiring an additional 6,362 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $321.27 on Monday. The business’s 50-day moving average is $286.44 and its 200-day moving average is $255.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $69.07 billion, a price-to-earnings ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $321.90.

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

Insider Activity

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred 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 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 50.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their target price on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Citigroup boosted their price objective on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley increased their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets upped their price target on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Finally, Bank of America lifted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

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.