Adobe Systems Incorporated (ADBE) Stake Lifted by Bank of Stockton
Bank of Stockton lifted its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 11.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,870 shares of the software company’s stock after purchasing an additional 615 shares during the period. Bank of Stockton’s holdings in Adobe Systems were worth $875,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ADBE. Aviva PLC raised its position in shares of Adobe Systems by 0.4% in the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after purchasing an additional 1,250 shares during the last quarter. Bender Robert & Associates bought a new position in shares of Adobe Systems during the 3rd quarter valued at approximately $3,476,000. Morgan Stanley increased its position in shares of Adobe Systems by 52.2% during the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after purchasing an additional 557,169 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Adobe Systems by 6.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after purchasing an additional 2,242 shares during the last quarter. Finally, BARING ASSET MANAGEMENT Ltd increased its position in shares of Adobe Systems by 12.0% during the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after purchasing an additional 2,864 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
Several research firms have recently weighed in on ADBE. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 target price on the stock in a research report on Monday. UBS AG began coverage on Adobe Systems in a research report on Thursday, November 9th. They set a “buy” rating and a $217.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Stifel Nicolaus boosted their target price on Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $170.00 price objective (up previously from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $174.11.
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In other news, Director John E. Warnock sold 6,800 shares of Adobe Systems 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 completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total value of $353,864.07. Following the completion of the sale, the executive vice president now directly owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock worth $2,519,679 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down $0.53 during trading on Wednesday, reaching $181.32. The company had a trading volume of 1,549,100 shares, compared to its average volume of 2,423,482. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $184.44. The stock has a market capitalization of $89,641.69, a P/E ratio of 54.77, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. equities analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
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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