Vestcor Inc Acquires 7,224 Shares of Autodesk, Inc. $ADSK

Vestcor Inc boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 51.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,351 shares of the software company’s stock after acquiring an additional 7,224 shares during the quarter. Vestcor Inc’s holdings in Autodesk were worth $6,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MCF Advisors LLC grew its holdings in Autodesk by 151.5% during the 4th quarter. MCF Advisors LLC now owns 166 shares of the software company’s stock worth $49,000 after acquiring an additional 100 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Autodesk by 5.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 137,241 shares of the software company’s stock worth $40,625,000 after acquiring an additional 6,572 shares during the last quarter. Pinebridge Investments LLC bought a new stake in Autodesk during the 4th quarter worth approximately $32,079,000. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in Autodesk during the 4th quarter worth approximately $10,197,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Autodesk by 39.4% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,742 shares of the software company’s stock worth $23,012,000 after acquiring an additional 21,960 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Trading Down 1.6%

NASDAQ:ADSK opened at $229.96 on Friday. The firm’s fifty day moving average is $237.72 and its 200-day moving average is $258.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.83. Autodesk, Inc. has a 52 week low of $214.10 and a 52 week high of $329.09. The firm has a market cap of $48.52 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.46 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company earned $2.29 EPS. Autodesk’s quarterly revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities analysts expect that Autodesk, Inc. will post 9.55 earnings per share for the current year.

Insider Activity

In related news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director directly owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Key Stories Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADSK. Loop Capital reduced their price objective on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Piper Sandler reduced their price objective on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Robert W. Baird reduced their price objective on shares of Autodesk from $355.00 to $312.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $327.21.

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.