Adobe Systems Incorporated (ADBE) Shares Bought by Park Avenue Securities LLC
Park Avenue Securities LLC grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 23.7% during the 4th quarter, HoldingsChannel reports. The fund owned 4,207 shares of the software company’s stock after acquiring an additional 807 shares during the period. Park Avenue Securities LLC’s holdings in Adobe Systems were worth $748,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. WFG Advisors LP lifted its position in shares of Adobe Systems by 5.9% in the second quarter. WFG Advisors LP now owns 1,338 shares of the software company’s stock valued at $189,000 after acquiring an additional 75 shares in the last quarter. Iberiabank Corp lifted its position in shares of Adobe Systems by 2.1% in the fourth quarter. Iberiabank Corp now owns 12,277 shares of the software company’s stock valued at $2,151,000 after acquiring an additional 253 shares in the last quarter. BB&T Investment Services Inc. lifted its position in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares in the last quarter. Bank of Stockton lifted its position in shares of Adobe Systems by 4.8% in the fourth quarter. Bank of Stockton now owns 6,150 shares of the software company’s stock valued at $1,077,000 after acquiring an additional 280 shares in the last quarter. Finally, Edge Advisors LLC lifted its position in shares of Adobe Systems by 1.7% in the third quarter. Edge Advisors LLC now owns 17,093 shares of the software company’s stock valued at $2,549,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.
ADBE has been the topic of several research analyst reports. Argus boosted their price objective on Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Pivotal Research upgraded Adobe Systems from a “sell” rating to a “hold” rating and boosted their price objective for the company from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr upgraded Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price objective on the stock in a research report on Monday, October 23rd. Finally, Stephens reiterated a “buy” rating and issued a $210.00 target price on shares of Adobe Systems in a research report on Wednesday, January 3rd. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $197.79.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $187.99 on Friday. Adobe Systems Incorporated has a 52-week low of $115.03 and a 52-week high of $204.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $92,411.75, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. equities research analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.
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About Adobe Systems
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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