Congress Wealth Management LLC DE Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Congress Wealth Management LLC DE acquired a new position in Autodesk, Inc. (NASDAQ:ADSKGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,223 shares of the software company’s stock, valued at approximately $7,373,000.

Several other hedge funds have also recently made changes to their positions in the company. Polen Capital Management LLC boosted its stake in Autodesk by 14.5% in the 3rd quarter. Polen Capital Management LLC now owns 6,897,362 shares of the software company’s stock worth $1,966,921,000 after buying an additional 875,015 shares during the last quarter. Brown Advisory Inc. increased its holdings in Autodesk by 18.3% during the 4th quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company’s stock worth $1,641,953,000 after purchasing an additional 902,168 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Autodesk by 2.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,760,909 shares of the software company’s stock valued at $1,072,500,000 after acquiring an additional 97,848 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Autodesk by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,467,089 shares of the software company’s stock valued at $985,713,000 after acquiring an additional 76,706 shares during the last quarter. Finally, Findlay Park Partners LLP increased its holdings in shares of Autodesk by 4.6% in the 3rd quarter. Findlay Park Partners LLP now owns 2,934,249 shares of the software company’s stock valued at $836,760,000 after acquiring an additional 129,662 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

In related news, CAO Stephen W. Hope sold 1,626 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Deborah Clifford sold 1,820 shares of Autodesk stock in a transaction on Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $386,386.00. The disclosure for this sale can be found here. Insiders have sold 7,458 shares of company stock valued at $1,545,628 over the last three months. 0.11% of the stock is owned by corporate insiders.

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on Autodesk from $343.00 to $300.00 and set an “outperform” rating for the company in a research report on Tuesday, February 22nd. TheStreet lowered Autodesk from a “b-” rating to a “c+” rating in a research report on Tuesday, March 8th. Citigroup decreased their price target on Autodesk from $305.00 to $286.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Stifel Nicolaus decreased their target price on Autodesk from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Finally, Barclays cut their price target on Autodesk from $289.00 to $275.00 in a report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Autodesk has an average rating of “Buy” and a consensus target price of $292.85.

Shares of ADSK stock traded down $0.70 during mid-day trading on Monday, reaching $196.03. The stock had a trading volume of 12,295 shares, compared to its average volume of 1,845,679. The stock’s 50-day moving average price is $212.72 and its two-hundred day moving average price is $256.39. Autodesk, Inc. has a 52-week low of $186.29 and a 52-week high of $344.39. The firm has a market capitalization of $42.60 billion, a PE ratio of 88.22 and a beta of 1.45. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.68.

Autodesk (NASDAQ:ADSKGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The software company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Autodesk’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Autodesk, Inc. will post 4.25 earnings per share for the current year.

Autodesk Company Profile (Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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