First Midwest Bank Trust Division increased its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 453.0% during the second quarter, Holdings Channel reports. The fund owned 16,895 shares of the software company’s stock after buying an additional 13,840 shares during the period. First Midwest Bank Trust Division’s holdings in Adobe Systems were worth $2,390,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC raised its position in shares of Adobe Systems by 0.4% in the first quarter. FMR LLC now owns 33,995,506 shares of the software company’s stock valued at $4,423,835,000 after buying an additional 139,986 shares during the period. Vanguard Group Inc. raised its position 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 buying an additional 937,118 shares during the period. BlackRock Inc. raised its position in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after buying an additional 30,228,013 shares during the period. State Street Corp raised its position 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 buying an additional 234,270 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock valued at $693,890,000 after buying an additional 349,088 shares during the period. 87.64% of the stock is currently owned by institutional investors.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 1.80% during trading on Monday, hitting $149.10. The stock had a trading volume of 491,062 shares. The stock has a market cap of $73.57 billion, a P/E ratio of 51.93 and a beta of 1.00. The stock’s 50 day moving average price is $145.74 and its 200-day moving average price is $133.08. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $150.40.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business earned $0.71 EPS. Adobe Systems’s revenue for the quarter was up 26.7% compared to the same quarter last year. Analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

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Several research analysts have issued reports on ADBE shares. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 target price for the company. in a research report on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. Piper Jaffray Companies boosted their target price on Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Finally, BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $154.20.

In related news, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ann Lewnes sold 2,233 shares of Adobe Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total transaction of $311,034.57. Following the sale, the executive vice president now owns 61,944 shares in the company, valued at $8,628,179.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock worth $14,877,475 over the last quarter. 0.38% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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