Zurcher Kantonalbank Zurich Cantonalbank Buys 85,346 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 66.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,946 shares of the software company’s stock after purchasing an additional 85,346 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Autodesk worth $58,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. New Covenant Trust Company N.A. bought a new stake in Autodesk during the 1st quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Autodesk during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in Autodesk in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Autodesk in the third quarter valued at approximately $28,000. Finally, Concord Wealth Partners acquired a new stake in Autodesk during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Down 8.6 %

Autodesk stock opened at $290.64 on Thursday. The company has a fifty day simple moving average of $289.02 and a 200 day simple moving average of $256.83. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a market cap of $62.49 billion, a P/E ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. KeyCorp raised their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Oppenheimer raised their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Bank of America upped their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Barclays lifted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company upped their target price on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.38.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the 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 owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 in the last 90 days. 0.14% of the stock is currently owned by insiders.

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.