Federated Hermes Inc. Purchases 4,262 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Federated Hermes Inc. increased its stake in Autodesk by 16.5%, holding 30,083 shares valued at approximately $7.88 million as of the last SEC filing.
• Institutional investors collectively own 90.24% of Autodesk's stock, reflecting strong interest in the company.
• Analysts have mixed opinions on Autodesk, with target prices ranging from $280.00 to $360.00, and an average rating of "Moderate Buy."

Federated Hermes Inc. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,083 shares of the software company's stock after purchasing an additional 4,262 shares during the quarter. Federated Hermes Inc.'s holdings in Autodesk were worth $7,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Oregon Pacific Wealth Management LLC raised its holdings in Autodesk by 4.0% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock worth $262,000 after buying an additional 38 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after buying an additional 41 shares during the period. Johnson Financial Group Inc. raised its holdings in Autodesk by 30.2% during the 4th quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock worth $56,000 after buying an additional 42 shares during the period. Sky Investment Group LLC raised its holdings in Autodesk by 0.5% during the 1st quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after buying an additional 42 shares during the period. Finally, Cullen Frost Bankers Inc. raised its holdings in Autodesk by 3.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,123 shares of the software company's stock worth $294,000 after buying an additional 42 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADSK. Royal Bank Of Canada restated an "outperform" rating and set a $345.00 price objective (up previously from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 target price on shares of Autodesk in a research note on Tuesday, May 20th. Robert W. Baird lifted their target price on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Mizuho lowered their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and an average target price of $342.61.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 9,391 shares of company stock valued at $2,909,885 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Shares of ADSK traded up $5.48 during mid-day trading on Monday, hitting $302.50. The company's stock had a trading volume of 933,570 shares, compared to its average volume of 1,799,252. Autodesk, Inc. has a one year low of $223.03 and a one year 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 $64.74 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The stock's 50-day moving average is $300.18 and its two-hundred day moving average is $286.26.

Autodesk 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.