Renaissance Technologies LLC boosted its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 278.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,700 shares of the software company’s stock after acquiring an additional 334,600 shares during the period. Renaissance Technologies LLC owned about 0.09% of Adobe Systems worth $64,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Parametric Portfolio Associates LLC lifted its holdings in Adobe Systems by 53.4% in the second quarter. Parametric Portfolio Associates LLC now owns 1,356,065 shares of the software company’s stock worth $191,802,000 after acquiring an additional 472,124 shares during the last quarter. Advisor Group Inc. lifted its holdings in Adobe Systems by 39.2% in the second quarter. Advisor Group Inc. now owns 19,831 shares of the software company’s stock worth $2,724,000 after acquiring an additional 5,587 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Adobe Systems by 21.6% in the second quarter. Nordea Investment Management AB now owns 318,167 shares of the software company’s stock worth $45,002,000 after acquiring an additional 56,461 shares during the last quarter. Cibc World Markets Corp lifted its holdings in Adobe Systems by 34.0% in the second quarter. Cibc World Markets Corp now owns 206,658 shares of the software company’s stock worth $29,230,000 after acquiring an additional 52,390 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in Adobe Systems by 1.6% in the second quarter. Suntrust Banks Inc. now owns 52,242 shares of the software company’s stock worth $7,387,000 after acquiring an additional 820 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Systems Incorporated (ADBE) opened at 147.95 on Thursday. The company has a 50-day moving average of $151.58 and a 200-day moving average of $142.09. The firm has a market cap of $72.93 billion, a price-to-earnings ratio of 46.51 and a beta of 0.98. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total transaction of $3,629,000.00. The disclosure for this sale can be found here. Insiders sold 53,359 shares of company stock valued at $7,868,382 in the last ninety days. Insiders own 0.38% of the company’s stock.

ADBE has been the topic of a number of recent research reports. Robert W. Baird reissued an “outperform” rating and issued a $160.00 target price (up previously from $140.00) on shares of Adobe Systems in a report on Wednesday, June 21st. 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. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Adobe Systems in a report on Monday, June 26th. Moffett Nathanson began coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, Wunderlich restated a “buy” rating and issued a $165.00 price target (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $158.16.

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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.

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

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