WESPAC Advisors LLC Buys Shares of 1,878 Autodesk, Inc. (ADSK)

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WESPAC Advisors LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,878 shares of the software company’s stock, valued at approximately $293,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank grew its holdings in Autodesk by 2.9% during the 3rd quarter. Commerce Bank now owns 14,746 shares of the software company’s stock valued at $2,302,000 after buying an additional 412 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Autodesk by 4.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,434,012 shares of the software company’s stock valued at $223,864,000 after buying an additional 57,104 shares in the last quarter. Pitcairn Co. grew its holdings in Autodesk by 100.3% during the 3rd quarter. Pitcairn Co. now owns 17,092 shares of the software company’s stock valued at $2,668,000 after buying an additional 8,560 shares in the last quarter. Signition LP grew its holdings in Autodesk by 3.9% during the 3rd quarter. Signition LP now owns 21,257 shares of the software company’s stock valued at $3,318,000 after buying an additional 790 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Autodesk by 16.6% during the 3rd quarter. US Bancorp DE now owns 47,759 shares of the software company’s stock valued at $7,456,000 after buying an additional 6,804 shares in the last quarter. 95.60% of the stock is owned by institutional investors.

A number of brokerages have issued reports on ADSK. CIBC increased their price objective on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Oppenheimer increased their price objective on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BidaskClub raised shares of Autodesk from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research lowered shares of Autodesk from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Credit Suisse Group increased their price objective on shares of Autodesk from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. Autodesk currently has an average rating of “Buy” and a consensus target price of $163.74.

In related news, CEO Andrew Anagnost sold 23,008 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $152.03, for a total value of $3,497,906.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lorrie M. Norrington sold 5,001 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total value of $783,906.75. The disclosure for this sale can be found here. Insiders have sold a total of 29,009 shares of company stock valued at $4,431,583 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

NASDAQ ADSK opened at $137.80 on Wednesday. The company has a market cap of $29.32 billion, a PE ratio of -86.12, a PEG ratio of 112.85 and a beta of 1.97. Autodesk, Inc. has a one year low of $101.55 and a one year high of $159.94.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 23rd. The software company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $612.00 million during the quarter, compared to the consensus estimate of $600.36 million. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. On average, sell-side analysts predict that Autodesk, Inc. will post 0.05 earnings per share for the current fiscal year.

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Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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