Fort Washington Investment Advisors Inc. OH held its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,165 shares of the software company’s stock at the end of the first quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Adobe Systems were worth $802,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Adobe Systems during the fourth quarter valued at $411,108,000. UBS Asset Management Americas Inc. boosted its position in shares of Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock valued at $438,907,000 after buying an additional 1,619,111 shares in the last quarter. Egerton Capital UK LLP acquired a new position in shares of Adobe Systems during the first quarter valued at about $209,666,000. Pioneer Investment Management Inc. acquired a new position in shares of Adobe Systems during the first quarter valued at about $201,774,000. Finally, Swedbank acquired a new position in shares of Adobe Systems during the first quarter valued at about $129,983,000. 87.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.36% on Friday, hitting $146.73. The stock had a trading volume of 1,399,373 shares. Adobe Systems Incorporated has a 1-year low of $95.42 and a 1-year high of $150.40. The firm has a market capitalization of $72.40 billion, a price-to-earnings ratio of 51.11 and a beta of 1.00. The firm has a 50 day moving average of $143.59 and a 200-day moving average of $130.51.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. Equities analysts predict that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
Several equities analysts have recently issued reports on ADBE shares. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target on the stock. in a research note on Tuesday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $165.00 price target (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Piper Jaffray Companies lifted their price target on Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 21st. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Finally, KeyCorp reiterated a “buy” rating on shares of Adobe Systems in a research note on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $153.20.
In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $149.38, for a total transaction of $1,867,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donna Morris sold 10,000 shares of Adobe Systems stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold 102,519 shares of company stock worth $14,894,384 over the last three months. 0.38% of the stock is owned by insiders.
Adobe Systems Company 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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