Synovus Financial Corp Grows Position in Autodesk, Inc. (ADSK)

Synovus Financial Corp increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 0.8% during the first quarter, HoldingsChannel.com reports. The fund owned 21,061 shares of the software company’s stock after acquiring an additional 168 shares during the quarter. Synovus Financial Corp’s holdings in Autodesk were worth $3,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Sontag Advisory LLC acquired a new stake in shares of Autodesk in the 4th quarter worth approximately $25,000. First Manhattan Co. grew its holdings in Autodesk by 221.2% during the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after buying an additional 115 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in Autodesk during the 4th quarter valued at $30,000. Liberty Wealth Management LLC acquired a new stake in Autodesk during the 4th quarter valued at $30,000. Finally, Lindbrook Capital LLC acquired a new stake in Autodesk during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

In other news, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $152.90, for a total transaction of $152,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 11,437 shares of Autodesk stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $166.86, for a total value of $1,908,377.82. The disclosure for this sale can be found here. Insiders sold 49,738 shares of company stock worth $8,051,281 over the last three months. 0.12% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on ADSK. TheStreet upgraded Autodesk from a “d” rating to a “c” rating in a report on Thursday, February 28th. BidaskClub cut Autodesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. Argus raised their price objective on Autodesk to $184.00 and gave the stock an “average” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Credit Suisse Group raised their price objective on Autodesk from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Deutsche Bank raised their price objective on Autodesk to $180.00 and gave the stock a “buy” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Autodesk presently has a consensus rating of “Buy” and an average target price of $173.63.

Shares of ADSK traded down $8.32 during trading hours on Monday, hitting $161.22. The stock had a trading volume of 6,109,157 shares, compared to its average volume of 1,620,586. The firm has a market capitalization of $35.49 billion, a P/E ratio of 1,465.64, a price-to-earnings-growth ratio of 2.41 and a beta of 1.95. Autodesk, Inc. has a 12-month low of $117.72 and a 12-month high of $178.95.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The firm had revenue of $735.50 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same period last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts forecast that Autodesk, Inc. will post 1.76 EPS for the current year.

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Autodesk Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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