Bank of Montreal Can Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Bank of Montreal Can increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 913,516 shares of the software company’s stock after acquiring an additional 73,363 shares during the period. Bank of Montreal Can’s holdings in Autodesk were worth $248,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new stake in shares of Autodesk in the 2nd quarter valued at $26,000. Pacifica Partners Inc. raised its holdings in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in Autodesk during the third quarter valued at $27,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Down 0.6 %

Shares of NASDAQ:ADSK opened at $319.39 on Tuesday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. 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 business has a fifty day moving average of $287.47 and a two-hundred day moving average of $255.89. The stock has a market cap of $68.67 billion, a P/E ratio of 65.32, a PEG ratio of 4.10 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced 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. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Royal Bank of Canada boosted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Berenberg Bank upped their price objective on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets lifted their target price on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $309.43.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business’s 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 completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last 90 days. Insiders own 0.14% of the company’s stock.

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.