Nicolet Bankshares Inc. decreased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,010 shares of the software company’s stock after selling 50 shares during the period. Nicolet Bankshares Inc.’s holdings in Adobe Systems were worth $850,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. 1ST Source Bank increased its stake in Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America increased 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 worth $250,000 after buying an additional 13 shares during the last quarter. Perigon Wealth Management LLC increased 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 worth $387,000 after buying an additional 13 shares during the last quarter. Trust Co. of Vermont increased 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 worth $372,000 after buying an additional 16 shares during the last quarter. Finally, Brown Advisory Securities LLC increased 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 worth $569,000 after buying an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 149.26 on Tuesday. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $151.99. The firm has a market cap of $73.65 billion, a P/E ratio of 51.99 and a beta of 1.00. The stock’s 50 day moving average is $146.81 and its 200 day moving average is $134.92.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. Equities research analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current year.
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A number of equities research analysts have recently weighed in on ADBE shares. Vetr downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target on the stock. in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. restated a “buy” rating and issued a $161.00 price target (up from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Canaccord Genuity restated a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Finally, Bank of America Corporation restated a “buy” rating and issued a $184.00 price target (up from $160.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $154.20.
In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total value of $311,034.57. Following the completion of the transaction, the executive vice president now owns 61,944 shares of the company’s stock, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,239 shares of company stock valued at $14,877,475. 0.38% of the stock is owned by corporate insiders.
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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