Bancorpsouth Inc. held its position in Adobe Systems Incorporated (NASDAQ:ADBE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,435 shares of the software company’s stock at the end of the first quarter. Bancorpsouth Inc.’s holdings in Adobe Systems were worth $577,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Cigna Investments Inc. New bought a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $1,880,000. L & S Advisors Inc bought a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $3,036,000. Congress Asset Management Co. MA bought a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $59,900,000. Guggenheim Capital LLC raised its stake in shares of Adobe Systems by 41.2% in the fourth quarter. Guggenheim Capital LLC now owns 625,139 shares of the software company’s stock valued at $64,357,000 after buying an additional 182,270 shares during the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $1,374,000. Hedge funds and other institutional investors own 87.97% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.36% during mid-day trading on Friday, hitting $146.73. The stock had a trading volume of 1,399,373 shares. The firm has a market cap of $72.40 billion, a price-to-earnings ratio of 51.11 and a beta of 1.00. The company has a 50-day moving average of $143.59 and a 200 day moving average of $130.51. Adobe Systems Incorporated has a one year low of $95.42 and a one year high of $150.40.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $0.71 EPS. The business’s quarterly revenue was up 26.7% on a year-over-year basis. On average, equities research analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
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ADBE has been the topic of several research analyst reports. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 target price on the stock. in a research report on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Piper Jaffray Companies boosted their target price on shares of Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. BidaskClub lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Finally, KeyCorp restated a “buy” rating on shares of Adobe Systems in a research report on Sunday, June 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $153.20.
In other news, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $145.16, for a total value of $3,629,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,519 shares of company stock valued at $14,894,384 over the last ninety days. Company insiders own 0.38% of the company’s stock.
About Adobe Systems
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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