Connor Clark & Lunn Investment Management Ltd. Takes $13.11 Million Position in Autodesk, Inc. $ADSK

Key Points

• Connor Clark & Lunn Investment Management acquired 67,404 Autodesk shares in the second quarter, valued at approximately $13.11 million. Institutional investors and hedge funds collectively own 90.24% of the company.
• Autodesk reported quarterly EPS of $2.99, beating estimates of $2.84, while revenue rose 18.4% year over year to $1.93 billion. The company provided fiscal 2027 EPS guidance of $12.40 to $12.65.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $321.65. Company insiders also purchased 7,935 shares worth approximately $1.67 million during the latest quarter.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,404 shares of the software company's stock, valued at approximately $13,105,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Autodesk during the 2nd quarter valued at approximately $4,828,855,000. State Street Corp boosted its stake in shares of Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after purchasing an additional 70,053 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after buying an additional 123,691 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after buying an additional 155,255 shares during the period. Finally, Norges Bank bought a new position in Autodesk during the fourth quarter worth $867,480,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Down 1.3%

ADSK opened at $251.21 on Wednesday. The company has a fifty day moving average price of $221.83 and a two-hundred day moving average price of $231.76. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The company has a market cap of $53.01 billion, a P/E ratio of 36.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business's revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Analysts predict that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Janesh Moorjani acquired 2,500 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John T. Cahill bought 2,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company's stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

ADSK has been the topic of several recent analyst reports. UBS Group restated a "buy" rating on shares of Autodesk in a report on Friday, May 29th. Citigroup increased their price target on Autodesk from $252.00 to $269.00 and gave the stock a "neutral" rating in a report on Thursday, August 20th. Zacks Research downgraded Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Wells Fargo & Company cut their target price on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Jefferies Financial Group raised Autodesk to a "strong-buy" rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.65.

Autodesk Profile

Autodesk, Inc NASDAQ: ADSK is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company's product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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