Sigma Investment Counselors Inc. Acquires New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sigma Investment Counselors Inc. purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, Holdings Channel reports. The firm purchased 750 shares of the software company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Sunbelt Securities Inc. increased its stake in Autodesk by 97.4% in the 1st quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock valued at $257,000 after buying an additional 487 shares during the last quarter. Brookstone Capital Management increased its stake in Autodesk by 9.5% in the 1st quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock valued at $362,000 after buying an additional 121 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Autodesk in the 1st quarter valued at $212,000. Grimes & Company Inc. acquired a new stake in Autodesk in the 1st quarter valued at $203,000. Finally, Founders Financial Securities LLC increased its stake in Autodesk by 24.9% in the 1st quarter. Founders Financial Securities LLC now owns 1,308 shares of the software company’s stock valued at $341,000 after buying an additional 261 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Autodesk in a research note on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price objective on the stock. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Barclays boosted their price objective on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Rosenblatt Securities boosted 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. Finally, Stifel Nicolaus boosted their price objective on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $292.95.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. In the last 90 days, insiders sold 19,280 shares of company stock valued at $5,200,929. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $286.04 on Friday. 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 company has a market capitalization of $61.64 billion, a P/E ratio of 61.91, a P/E/G ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $294.13. The firm has a 50-day moving average price of $267.49 and a two-hundred day moving average price of $243.28.

Autodesk (NASDAQ:ADSK) last posted 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 the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. Analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

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.