Adobe Systems Incorporated (NASDAQ:ADBE) Stake Boosted by USA Financial Portformulas Corp

USA Financial Portformulas Corp increased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,086 shares of the software company’s stock after purchasing an additional 2,183 shares during the period. Adobe Systems makes up about 1.6% of USA Financial Portformulas Corp’s holdings, making the stock its 9th biggest holding. USA Financial Portformulas Corp’s holdings in Adobe Systems were worth $6,875,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Gofen & Glossberg LLC IL boosted its position in Adobe Systems by 2.7% during the 1st quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after buying an additional 673 shares during the period. Principal Financial Group Inc. boosted its position in Adobe Systems by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 721,395 shares of the software company’s stock valued at $93,875,000 after buying an additional 9,501 shares during the period. Wellington Management Group LLP boosted its position in Adobe Systems by 40.3% during the 1st quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock valued at $521,737,000 after buying an additional 1,152,281 shares during the period. Stratos Wealth Partners LTD. boosted its position in Adobe Systems by 40.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 6,940 shares of the software company’s stock valued at $903,000 after buying an additional 1,992 shares during the period. Finally, FMR LLC boosted its position in Adobe Systems by 0.4% during the 1st quarter. FMR LLC now owns 33,995,506 shares of the software company’s stock valued at $4,423,835,000 after buying an additional 139,986 shares during the period. 87.21% of the stock is owned by institutional investors.

In related news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total value of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares in the company, valued at $9,503,415.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock worth $2,519,679 in the last three months. Insiders own 0.38% of the company’s stock.

ADBE has been the subject of several research analyst reports. 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 Wednesday, August 16th. Jefferies Group LLC initiated coverage on shares of Adobe Systems in a research report on Thursday, August 24th. They issued a “buy” rating and a $175.00 target price for the company. Bank of America Corporation raised their target price on shares of Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, August 25th. Finally, Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a research report on Thursday, August 31st. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $175.43.

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Adobe Systems Incorporated (NASDAQ ADBE) opened at $182.90 on Thursday. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $185.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $90,160.00, a price-to-earnings ratio of 54.92, a PEG ratio of 3.10 and a beta of 1.05.

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

About Adobe Systems

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.

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

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