Sigma Investment Counselors Inc. Takes $207,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

Sigma Investment Counselors Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 750 shares of the software company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after acquiring an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Ninety One UK Ltd raised its stake in 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 purchasing an additional 1,108,973 shares during the period. Legal & General Group Plc raised its stake in Autodesk by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after purchasing an additional 81,314 shares during the period. Finally, Van ECK Associates Corp raised its stake in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ADSK. Wells Fargo & Company began coverage on shares of Autodesk in a research note on Wednesday, October 16th. They set an “overweight” rating and a $340.00 target price on the stock. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and upped their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada upped their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Oppenheimer upped their price target on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.95.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the transaction, the director now directly owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $286.04 on Friday. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $294.13. The stock has a market cap of $61.64 billion, a PE ratio of 61.91, a PEG ratio of 3.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50 day moving average price is $267.49 and its two-hundred day moving average price is $243.28.

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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

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.