HM Payson & Co. Purchases 425 Shares of Adobe Systems Incorporated (ADBE)

HM Payson & Co. grew its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,414 shares of the software company’s stock after purchasing an additional 425 shares during the quarter. HM Payson & Co.’s holdings in Adobe Systems were worth $658,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. 1ST Source Bank increased its holdings in shares of Adobe Systems by 0.3% during the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after purchasing an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its holdings in shares of Adobe Systems by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after purchasing an additional 13 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Adobe Systems by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after purchasing an additional 13 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after purchasing an additional 16 shares in the last quarter. Finally, Bank of Stockton increased its holdings in shares of Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after purchasing an additional 20 shares in the last quarter. 87.68% of the stock is owned by hedge funds and other institutional investors.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated 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 sale, the director now 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 90 days, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by insiders.

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Shares of Adobe Systems Incorporated (ADBE) traded down $0.20 on Friday, reaching $181.72. 2,082,600 shares of the company traded hands, compared to its average volume of 3,456,833. The stock has a market cap of $89,577.60, a price-to-earnings ratio of 54.73, a P/E/G ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $184.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. research analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.

ADBE has been the subject of several recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $175.00 target price on shares of Adobe Systems in a report on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price for the company in a report on Tuesday, July 18th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $160.00 target price on shares of Adobe Systems in a report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $173.56.

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.

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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