Wedge Capital Management L L P NC Buys New Position in Autodesk, Inc. (NASDAQ:ADSK)

Wedge Capital Management L L P NC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 212,788 shares of the software company's stock, valued at approximately $55,708,000. Autodesk accounts for about 1.1% of Wedge Capital Management L L P NC's portfolio, making the stock its 12th biggest holding. Wedge Capital Management L L P NC owned about 0.10% of Autodesk as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ADSK. Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after acquiring an additional 2,307,960 shares in the last quarter. Norges Bank purchased a new position in Autodesk during the 4th quarter valued at about $632,566,000. Farallon Capital Management LLC bought a new position in Autodesk in the 4th quarter worth about $544,381,000. GAMMA Investing LLC grew its position in Autodesk by 27,505.2% in the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after acquiring an additional 1,465,204 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Autodesk by 43.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after purchasing an additional 670,699 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Trading Down 0.3%

Shares of Autodesk stock traded down $0.77 during trading hours on Wednesday, reaching $296.77. 1,198,502 shares of the company's stock were exchanged, compared to its average volume of 1,567,080. The firm has a market capitalization of $63.51 billion, a price-to-earnings ratio of 58.88, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $205.86 and a 52-week high of $326.62. The company has a fifty day moving average of $279.08 and a 200-day moving average of $285.65.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADSK shares. Oppenheimer reissued an "outperform" rating and issued a $350.00 price target (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $360.00 target price (up from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Mizuho dropped their target price on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Scotiabank lowered their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $337.45.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John T. Cahill bought 2,000 shares of the business's stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company's stock.

About Autodesk

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.