Commonwealth Bank of Australia raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,088 shares of the software company’s stock after buying an additional 2,144 shares during the quarter. Commonwealth Bank of Australia’s holdings in Adobe Systems were worth $1,648,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its position in Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares in the last quarter. BlackRock Inc. grew its position in Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares in the last quarter. Vanguard Group Inc. grew its position in Adobe Systems by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after acquiring an additional 943,487 shares in the last quarter. Janus Henderson Group PLC grew its position in Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares in the last quarter. Finally, Polen Capital Management LLC grew its position in Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after acquiring an additional 1,452,892 shares in the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
In other news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,849 shares of company stock valued at $2,519,679. Insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $168.44 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 1-year low of $100.16 and a 1-year high of $186.27. The firm has a market cap of $88,493.13, a price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 25.8% on a year-over-year basis. equities research analysts predict that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
WARNING: This piece was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.chaffeybreeze.com/2017/12/05/commonwealth-bank-of-australia-grows-holdings-in-adobe-systems-incorporated-adbe.html.
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.
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.