Fifth Third Bancorp Grows Holdings in Autodesk, Inc. $ADSK

Fifth Third Bancorp lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 563.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 68,850 shares of the software company’s stock after purchasing an additional 58,466 shares during the quarter. Fifth Third Bancorp’s holdings in Autodesk were worth $16,483,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management boosted its stake in shares of Autodesk by 246.4% in the 4th quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock valued at $15,585,000 after buying an additional 37,449 shares during the period. SG Americas Securities LLC raised its holdings in Autodesk by 158.4% in the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock valued at $65,248,000 after acquiring an additional 167,064 shares in the last quarter. Man Group plc lifted its stake in Autodesk by 28.6% in the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock worth $364,076,000 after acquiring an additional 273,765 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Autodesk by 46.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company’s stock worth $157,627,000 after acquiring an additional 169,099 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Autodesk by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company’s stock valued at $280,166,000 after purchasing an additional 4,845 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADSK. Arete Research decreased their price target on Autodesk from $460.00 to $456.00 and set a “buy” rating for the company in a report on Thursday, March 26th. BNP Paribas Exane initiated coverage on shares of Autodesk in a research note on Thursday, June 18th. They issued an “outperform” rating and a $295.00 price target on the stock. Zacks Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Citigroup lifted their price target on shares of Autodesk from $246.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada cut their target price on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Two 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 company’s stock. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $326.10.

Autodesk Price Performance

Shares of ADSK opened at $205.92 on Wednesday. The firm has a market capitalization of $43.45 billion, a PE ratio of 30.02, a P/E/G ratio of 1.31 and a beta of 1.32. The stock’s 50 day moving average is $219.31 and its two-hundred day moving average is $239.70. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. 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) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Autodesk’s quarterly revenue was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Activity at Autodesk

In other news, Director Stacy J. Smith bought 3,435 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at $756,800. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 7,935 shares of company stock valued at $1,666,644 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Autodesk Company 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.