Public Employees Retirement Association of Colorado Sells 4,874 Shares of Adobe Systems Incorporated (ADBE)
Public Employees Retirement Association of Colorado lowered its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,093 shares of the software company’s stock after selling 4,874 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Adobe Systems were worth $13,440,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ADBE. Capital Advisors Ltd. LLC bought a new position in Adobe Systems in the second quarter worth about $100,000. CWM LLC lifted its holdings in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the second quarter worth about $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ ADBE) opened at $182.30 on Friday. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $182.74. The firm has a market cap of $89.86 billion, a P/E ratio of 54.50, a price-to-earnings-growth ratio of 3.07 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 quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. equities analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
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A number of equities analysts have issued reports on ADBE shares. Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and raised their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a report on Thursday, August 31st. Argus raised their target price on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Moffett Nathanson initiated coverage on Adobe Systems in a report on Wednesday, September 6th. They set a “buy” rating and a $195.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a report on Tuesday, September 12th. Seven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems currently has a consensus rating of “Buy” and a consensus target price of $170.06.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of Adobe Systems 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 completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a document filed 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, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,849 shares of company stock worth $2,452,281. Corporate insiders own 0.38% of the company’s stock.
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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