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Autodesk Said to Be Targeted by Activist Ferguson's Sachem Head

Autodesk Inc., the maker of architectural and engineering design software, is being targeted by activist investor Sachem Head Capital Management.

The fund run by Scott Ferguson has amassed a new stake of about 5.7 percent, and views the stock as “undervalued,” it disclosed in a 13D regulatory filing Wednesday. Sachem Head intends “to engage in discussions” with Autodesk’s management and directors on issues including “business, management, operations (including cost structure), assets, capitalization, financial condition, strategic plans, governance and board composition.” New York-based Sachem Head has more than $4 billion under management.

Autodesk, based in San...