Violich Capital Management Inc. acquired a new stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,650 shares of the software company’s stock, valued at approximately $395,000.

A number of other large investors have also recently added to or reduced their stakes in the business. 1ST Source Bank boosted its holdings in shares of Adobe Systems by 0.3% during the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after acquiring an additional 6 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after acquiring an additional 16 shares during the last quarter. Bank of Stockton boosted its holdings in shares of Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after acquiring an additional 20 shares during the last quarter. Bank of The West boosted its holdings in shares of Adobe Systems by 0.5% during the 2nd quarter. Bank of The West now owns 4,943 shares of the software company’s stock valued at $699,000 after acquiring an additional 25 shares during the last quarter. Finally, Bienville Capital Management LLC boosted its holdings in shares of Adobe Systems by 1.6% during the 2nd quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock valued at $287,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Vetr raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a report on Tuesday, December 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $170.00 price target (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $176.50.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $173.57 on Monday. Adobe Systems Incorporated has a one year low of $101.91 and a one year high of $186.27. The company has a market cap of $85,560.00, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business earned $0.75 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. equities analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.

In other news, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction that occurred 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 sale, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares in the company, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by company insiders.

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

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