Victory Capital Management Inc. Increases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Victory Capital Management Inc. boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 68.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,457 shares of the software company's stock after purchasing an additional 137,749 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Autodesk worth $93,789,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in shares of Autodesk during the 1st quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk during the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new position in shares of Autodesk during the 2nd quarter valued at $26,000. Pacifica Partners Inc. increased its stake in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock worth $27,000 after acquiring an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Autodesk during the third quarter worth $27,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADSK. HSBC raised Autodesk from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company assumed coverage on Autodesk in a research report on Wednesday, October 16th. They set an "overweight" rating and a $340.00 price objective for the company. DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They issued a "neutral" rating and a $260.00 target price on the stock. Rosenblatt Securities raised 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, Piper Sandler boosted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.95.

Autodesk Stock Performance

ADSK stock traded down $6.49 during midday trading on Thursday, reaching $306.65. 1,544,593 shares of the company were exchanged, compared to its average volume of 1,576,208. The firm has a market capitalization of $65.93 billion, a price-to-earnings ratio of 64.04, a price-to-earnings-growth ratio of 3.93 and a beta of 1.47. The business has a 50-day moving average price of $279.25 and a two-hundred day moving average price of $250.27. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm posted $1.12 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company's stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk 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 of the company's stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,730 shares of company stock valued at $5,064,430 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

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.