Texas Permanent School Fund Corp Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Texas Permanent School Fund Corp raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,218 shares of the software company’s stock after acquiring an additional 82 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Autodesk were worth $11,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new stake in shares of Autodesk during the first quarter worth about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth about $25,000. Bfsg LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth about $28,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $31,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Trading Up 0.6 %

ADSK stock traded up $1.55 during midday trading on Friday, reaching $250.32. 41,556 shares of the company’s stock traded hands, compared to its average volume of 1,744,252. The company has a market capitalization of $53.95 billion, a P/E ratio of 53.85, a PEG ratio of 3.30 and a beta of 1.48. The business has a 50-day moving average price of $226.87 and a two-hundred day moving average price of $239.55. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. Equities research analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Insider Activity

In other news, 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 sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, 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. Insiders have sold 38,831 shares of company stock worth $9,261,951 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Bank of America lowered their price target on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Mizuho lowered their price target on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Robert W. Baird decreased their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. BMO Capital Markets decreased their target price on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. Finally, Barclays decreased their target price on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $262.42.

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.