Strategy Asset Managers LLC reduced its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 2.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 51,186 shares of the software company’s stock after selling 1,417 shares during the quarter. Adobe Systems accounts for approximately 1.6% of Strategy Asset Managers LLC’s portfolio, making the stock its 24th largest holding. Strategy Asset Managers LLC’s holdings in Adobe Systems were worth $7,636,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Capital Planning Advisors LLC purchased a new stake in Adobe Systems during the first quarter valued at about $211,000. Segall Bryant & Hamill LLC lifted its holdings in Adobe Systems by 1.2% during the first quarter. Segall Bryant & Hamill LLC now owns 657,919 shares of the software company’s stock valued at $85,615,000 after purchasing an additional 7,790 shares during the last quarter. Financial Counselors Inc. lifted its holdings in Adobe Systems by 8.1% during the first quarter. Financial Counselors Inc. now owns 17,346 shares of the software company’s stock valued at $2,257,000 after purchasing an additional 1,296 shares during the last quarter. Wexford Capital LP purchased a new stake in Adobe Systems during the first quarter valued at about $4,719,000. Finally, Cleararc Capital Inc. lifted its holdings in shares of Adobe Systems by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,137 shares of the software company’s stock worth $1,579,000 after buying an additional 70 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors.
Adobe Systems Incorporated (NASDAQ:ADBE) traded down $0.22 during trading on Tuesday, hitting $181.63. The company’s stock had a trading volume of 441,131 shares, compared to its average volume of 2,427,474. The company has a market cap of $89,080.00, a P/E ratio of 54.74, a P/E/G ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $184.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. equities research analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
In other news, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total value 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 90 days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Corporate insiders own 0.38% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target on the stock in a report on Monday. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a report on Tuesday, September 12th. Barclays PLC reissued a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a report on Friday, September 15th. Finally, Wells Fargo & Company reissued a “hold” rating and issued a $145.00 price target (up from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Adobe Systems currently has a consensus rating of “Buy” and an average target price of $174.11.
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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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