Banque Pictet & Cie SA Increases Stake in Adobe Systems Incorporated (ADBE)
Banque Pictet & Cie SA grew its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,036 shares of the software company’s stock after purchasing an additional 460 shares during the period. Banque Pictet & Cie SA’s holdings in Adobe Systems were worth $11,641,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ADBE. Guardian Life Insurance Co. of America increased its holdings in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after purchasing an additional 13 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Adobe Systems in the first quarter valued at about $34,497,000. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Adobe Systems by 35.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 23,180 shares of the software company’s stock valued at $3,016,000 after purchasing an additional 6,095 shares during the period. Vanguard Group Inc. increased its holdings in shares of Adobe Systems by 2.9% in the first quarter. Vanguard Group Inc. now owns 33,055,251 shares of the software company’s stock valued at $4,301,480,000 after purchasing an additional 937,118 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Adobe Systems by 21.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,281 shares of the software company’s stock valued at $2,769,000 after purchasing an additional 3,777 shares during the period. 87.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down $0.06 during trading on Friday, reaching $182.24. The company had a trading volume of 1,433,667 shares, compared to its average volume of 2,415,201. 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 $89,860.00, a P/E ratio of 54.61, a price-to-earnings-growth ratio of 3.08 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 posted its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. equities analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the completion of the sale, the executive vice president now owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John E. Warnock sold 6,800 shares of the firm’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 directly 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. In the last three months, insiders have sold 14,849 shares of company stock valued at $2,519,679. 0.38% of the stock is owned by insiders.
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Several research firms recently commented on ADBE. UBS AG began coverage on Adobe Systems in a report on Thursday, November 9th. They set a “buy” rating and a $217.00 target price on the stock. Stifel Nicolaus raised their target price on Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 target price on the stock in a report on Monday, November 13th. Barclays PLC raised their target price on Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $190.00 target price (up from $153.00) on shares of Adobe Systems in a report on Thursday, October 19th. Six research 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $174.11.
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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