Intrust Bank NA Reduces Holdings in Adobe Systems Incorporated (ADBE)
Intrust Bank NA decreased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,618 shares of the software company’s stock after selling 531 shares during the period. Intrust Bank NA’s holdings in Adobe Systems were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of ADBE. Capital Planning Advisors LLC acquired a new position in shares of Adobe Systems in the first quarter worth $211,000. Segall Bryant & Hamill LLC grew its stake in shares of Adobe Systems by 1.2% in the first quarter. Segall Bryant & Hamill LLC now owns 657,919 shares of the software company’s stock worth $85,615,000 after acquiring an additional 7,790 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe Systems by 8.1% in the first quarter. Financial Counselors Inc. now owns 17,346 shares of the software company’s stock worth $2,257,000 after acquiring an additional 1,296 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Adobe Systems in the first quarter worth $4,719,000. Finally, Cleararc Capital Inc. grew its stake in shares of Adobe Systems by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,137 shares of the software company’s stock worth $1,579,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
ADBE has been the subject of several research reports. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price target for the company in a research note on Tuesday, July 18th. Royal Bank Of Canada restated a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Jefferies Group LLC assumed coverage on shares of Adobe Systems in a research report on Thursday, August 24th. They set a “buy” rating and a $175.00 price objective for the company. Finally, Bank of America Corporation lifted their price objective on shares of Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, August 25th. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $174.11.
In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Company insiders own 0.38% of the company’s stock.
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Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.20 during trading hours on Monday, reaching $181.72. 2,082,600 shares of the company’s stock were exchanged, compared to its average volume of 2,431,747. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $89,580.00, a P/E ratio of 54.74, a P/E/G ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $184.44.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data 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 analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. research analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
Adobe Systems Company 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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