Verdence Capital Advisors LLC Raises Holdings in Adobe Inc. $ADBE

Verdence Capital Advisors LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 20.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,862 shares of the software company’s stock after purchasing an additional 833 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Adobe were worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ADBE. Schmidt P J Investment Management Inc. lifted its stake in shares of Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. increased its holdings in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co increased its holdings in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares during the period. Lifeworks Advisors LLC increased its holdings in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Evercore ISI cut their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Oppenheimer dropped their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Citigroup dropped their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $339.32 on Tuesday. The company has a market capitalization of $142.04 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.51 and a beta of 1.49. The business’s 50 day moving average is $351.68 and its two-hundred day moving average is $370.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.