Quantitative Systematic Strategies LLC Purchases New Position in Adobe Systems Incorporated (ADBE)

Quantitative Systematic Strategies LLC purchased a new stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, Holdings Channel reports. The fund purchased 7,950 shares of the software company’s stock, valued at approximately $1,123,000.

Other large investors have also recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its stake in Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after buying an additional 13 shares in the last quarter. Alpha Windward LLC boosted its stake in Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock valued at $215,000 after buying an additional 15 shares in the last quarter. Trust Co. of Vermont boosted its stake in Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after buying an additional 16 shares in the last quarter. Finally, Brown Advisory Securities LLC boosted its stake in Adobe Systems by 0.5% in the first quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock valued at $569,000 after buying an additional 21 shares in the last quarter. 88.05% of the stock is owned by institutional investors and hedge funds.

Shares of Adobe Systems Incorporated (ADBE) traded up 0.08% during mid-day trading on Wednesday, hitting $147.93. 531,343 shares of the stock were exchanged. The stock’s 50 day moving average is $144.91 and its 200-day moving average is $131.74. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $150.40. The stock has a market cap of $72.99 billion, a PE ratio of 51.53 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.

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Several equities research analysts have recently commented on the stock. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. KeyCorp reaffirmed a “buy” rating on shares of Adobe Systems in a research report on Sunday, June 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $153.20.

In related news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total transaction of $311,034.57. Following the completion of the transaction, the executive vice president now owns 61,944 shares in the company, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,286 shares of company stock worth $14,591,009. Corporate insiders own 0.38% of the company’s stock.

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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