Candriam Luxembourg S.C.A. cut its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,926 shares of the software company’s stock after selling 30,313 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Adobe Systems were worth $21,023,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in Adobe Systems by 688.5% in the 1st quarter. Westside Investment Management Inc. now owns 2,405 shares of the software company’s stock valued at $312,000 after buying an additional 2,100 shares during the period. Stephens Inc. AR boosted its position in Adobe Systems by 2.5% in the 1st quarter. Stephens Inc. AR now owns 41,900 shares of the software company’s stock valued at $5,452,000 after buying an additional 1,009 shares during the period. Israel Discount Bank of New York purchased a new stake in Adobe Systems in the 1st quarter valued at about $189,000. Westfield Capital Management Co. LP boosted its position in Adobe Systems by 43.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 839,959 shares of the software company’s stock valued at $109,304,000 after buying an additional 254,861 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Adobe Systems by 3.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 144,954 shares of the software company’s stock valued at $18,862,000 after buying an additional 4,367 shares during the period. 87.68% of the stock is owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.20 during mid-day trading on Friday, hitting $181.72. 2,063,218 shares of the stock traded hands, compared to its average volume of 3,456,833. The stock has a market cap of $89,676.19, a P/E ratio of 54.79, a P/E/G ratio of 3.09 and a beta of 1.05. 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 fifty-two week low of $98.00 and a fifty-two week high of $184.44.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. equities analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
Several research firms have issued reports on ADBE. Stifel Nicolaus boosted their price objective on shares of Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. UBS AG began coverage on shares of Adobe Systems in a research report on Thursday. They issued a “buy” rating and a $217.00 price objective for the company. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $172.83 price objective for the company in a research report on Thursday, November 2nd. Argus boosted their price objective on shares of Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $173.56.
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In related news, Director John E. Warnock sold 6,800 shares of the stock in a transaction 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 directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the sale, the executive vice president now directly owns 56,356 shares in the company, valued at $8,784,773.28. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock worth $2,519,679 over the last ninety days. Insiders own 0.38% of the company’s stock.
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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