Meyer Handelman Co. Sells 868 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Meyer Handelman Co. cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 25.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,599 shares of the software company’s stock after selling 868 shares during the quarter. Meyer Handelman Co.’s holdings in Autodesk were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

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

Autodesk Price Performance

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

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company 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%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. As a group, equities analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of several analyst reports. Morgan Stanley lifted their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Rosenblatt Securities lifted their price objective on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research note on Friday, November 29th. Finally, KeyCorp raised their price objective on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

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.