Adobe Systems Incorporated (ADBE) Shares Bought by Employees Retirement System of Texas
Employees Retirement System of Texas grew its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 25.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,100 shares of the software company’s stock after acquiring an additional 44,000 shares during the period. Employees Retirement System of Texas’ holdings in Adobe Systems were worth $30,282,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after acquiring an additional 1,651,762 shares during the last quarter. BlackRock Inc. raised its stake in shares of Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after acquiring an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Adobe Systems by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after acquiring an additional 943,487 shares during the last quarter. State Street Corp raised its stake in shares of Adobe Systems by 1.2% in the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock valued at $2,539,679,000 after acquiring an additional 234,270 shares during the last quarter. Finally, Polen Capital Management LLC raised its stake in shares of 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 valued at $857,484,000 after acquiring an additional 1,452,892 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and issued a $165.00 target price on shares of Adobe Systems in a research note on Tuesday, October 3rd. Robert W. Baird set a $160.00 price target on shares of Adobe Systems and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada reissued a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. 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 report on Wednesday, September 20th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $163.00 price target on shares of Adobe Systems in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $158.16.
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Shares of Adobe Systems Incorporated (ADBE) opened at 151.12 on Friday. The company has a market capitalization of $74.67 billion, a PE ratio of 65.14 and a beta of 0.98. The company has a 50-day moving average of $151.62 and a 200 day moving average of $142.33. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $157.89.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. Analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares in the company, valued at $8,784,773.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold 53,359 shares of company stock valued at $7,868,382 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.
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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