Adobe Systems Incorporated (ADBE) Shares Bought by British Airways Pensions Investment Management Ltd
British Airways Pensions Investment Management Ltd increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 130.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,278 shares of the software company’s stock after acquiring an additional 98,753 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Adobe Systems were worth $25,992,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its holdings in Adobe Systems by 13.2% during the third quarter. Advisors Asset Management Inc. now owns 118,710 shares of the software company’s stock worth $17,709,000 after acquiring an additional 13,831 shares during the period. ACG Wealth grew its holdings in Adobe Systems by 1.5% during the third quarter. ACG Wealth now owns 28,545 shares of the software company’s stock worth $4,258,000 after acquiring an additional 411 shares during the period. Quantbot Technologies LP acquired a new position in Adobe Systems during the third quarter worth about $2,704,000. Cambridge Investment Research Advisors Inc. grew its holdings in Adobe Systems by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,676 shares of the software company’s stock worth $3,980,000 after acquiring an additional 769 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Adobe Systems by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,882,771 shares of the software company’s stock worth $280,847,000 after purchasing an additional 5,870 shares in the last quarter. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is currently owned by company insiders.
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Shares of Adobe Systems Incorporated (ADBE) traded up $2.22 during midday trading on Friday, reaching $182.30. The company’s stock had a trading volume of 1,961,100 shares, compared to its average volume of 2,419,406. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $89,710.00, a P/E ratio of 54.24, a P/E/G ratio of 3.06 and a beta of 1.05. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $184.44.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for 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 company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. sell-side analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target on the stock in a research note on Monday. Royal Bank Of Canada reissued a “buy” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. UBS AG assumed coverage on Adobe Systems in a research note on Thursday, November 9th. They issued a “buy” rating and a $217.00 price target on the stock. Stifel Nicolaus lifted their price target on Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $170.00 price target (up previously from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $174.11.
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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