Westpac Banking Corp cut its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 56.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,091 shares of the software company’s stock after selling 40,648 shares during the quarter. Westpac Banking Corp’s holdings in Adobe Systems were worth $5,448,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares during the last quarter. BlackRock Inc. grew its position in Adobe Systems by 8.2% during the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. grew its position in Adobe Systems by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after acquiring an additional 943,487 shares during the last quarter. Janus Henderson Group PLC grew its position in Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares during the last quarter. Finally, Polen Capital Management LLC grew its position in Adobe Systems by 3.7% during the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock worth $938,166,000 after acquiring an additional 226,286 shares during the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.

ADBE has been the topic of several recent research reports. Bank of America raised their price target on Adobe Systems from $184.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Citigroup raised their price target on Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and set a $175.00 price target (up from $163.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $185.00 price target (up from $170.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Adobe Systems presently has an average rating of “Buy” and a consensus target price of $187.00.

Adobe Systems Incorporated (ADBE) opened at $195.73 on Friday. The company has a market capitalization of $96,483.73, a P/E ratio of 55.29, a PEG ratio of 2.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a one year low of $109.57 and a one year high of $198.21.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. analysts expect that Adobe Systems Incorporated will post 4.58 earnings per share for the current year.

In other news, Director Robert K. Burgess sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $175.39, for a total value of $4,384,750.00. Following the completion of the transaction, the director now owns 12,375 shares in the company, valued at approximately $2,170,451.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles M. Geschke sold 21,276 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total value of $3,969,037.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,972 shares of company stock valued at $14,613,967. 0.38% of the stock is currently 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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