Meyer Handelman Co. Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Meyer Handelman Co. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,599 shares of the software company’s stock after selling 868 shares during the period. Meyer Handelman Co.’s holdings in Autodesk were worth $768,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in shares of Autodesk in the third quarter worth $27,000. Concord Wealth Partners bought a new stake in Autodesk in the 3rd quarter worth $28,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the third quarter valued at about $28,000. Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the fourth quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $286.87 on Wednesday. The company has a market capitalization of $61.68 billion, a price-to-earnings ratio of 56.92, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company’s 50-day moving average is $301.26 and its 200 day moving average is $274.86.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Sell-side analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Rosenblatt Securities boosted their price target on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Oppenheimer upped their target price on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Citigroup raised their price target on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.05.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Autodesk 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.