First Republic Investment Management Inc. lifted its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 305,104 shares of the software company’s stock after buying an additional 4,300 shares during the quarter. First Republic Investment Management Inc. owned about 0.06% of Adobe Systems worth $45,516,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ADBE. Aviva PLC increased its holdings in shares of Adobe Systems by 0.4% in the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after acquiring an additional 1,250 shares during the period. Bender Robert & Associates acquired a new position in shares of Adobe Systems in the 3rd quarter valued at $3,476,000. Arcadia Investment Management Corp MI increased its holdings in shares of Adobe Systems by 6.9% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after acquiring an additional 2,242 shares during the period. BARING ASSET MANAGEMENT Ltd increased its holdings in shares of Adobe Systems by 12.0% in the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after acquiring an additional 2,864 shares during the period. Finally, Clinton Group Inc. acquired a new position in shares of Adobe Systems in the 2nd quarter valued at $411,000. Institutional investors and hedge funds own 87.45% of the company’s stock.
Adobe Systems Incorporated (ADBE) opened at $173.52 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 12 month low of $100.89 and a 12 month high of $186.27. The stock has a market cap of $82,587.66, a price-to-earnings ratio of 50.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. equities research analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
In other news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now directly owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock worth $2,519,679. Corporate insiders own 0.38% of the company’s stock.
A number of brokerages have recently commented on ADBE. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 target price on the stock in a report on Wednesday, September 20th. Barclays reaffirmed a “buy” rating and issued a $167.00 target price on shares of Adobe Systems in a report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $180.00 target price on shares of Adobe Systems in a report on Tuesday, September 12th. Finally, Wells Fargo & Company reaffirmed a “hold” rating and issued a $145.00 target price (up from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $176.50.
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Adobe Systems Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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