Adobe Systems Incorporated (ADBE) Shares Bought by Zions Bancorporation
Zions Bancorporation grew its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 4,093.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,474 shares of the software company’s stock after purchasing an additional 2,415 shares during the period. Zions Bancorporation’s holdings in Adobe Systems were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new stake in Adobe Systems during the 2nd quarter worth approximately $100,000. Parkside Financial Bank & Trust boosted its position in Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares during the period. BB&T Investment Services Inc. lifted its position in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems in the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC lifted its position in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares during the period. Institutional investors own 87.45% of the company’s stock.
A number of research analysts have recently issued reports on ADBE shares. Argus boosted their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Pivotal Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and boosted their price target for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target on the stock. in a research report on Thursday, August 31st. Finally, Moffett Nathanson started coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price target on the stock. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $176.50.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 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 analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock valued at $2,519,679 in the last 90 days. 0.38% of the stock is currently owned by company insiders.
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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.
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