Adobe Systems Incorporated (ADBE) Stake Raised by Norinchukin Bank The

Norinchukin Bank The lifted its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,412 shares of the software company’s stock after purchasing an additional 2,689 shares during the period. Norinchukin Bank The’s holdings in Adobe Systems were worth $6,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Adobe Systems in the fourth quarter worth approximately $118,000. Community Bank N.A. purchased a new stake in shares of Adobe Systems in the fourth quarter worth approximately $122,000. Parkside Financial Bank & Trust raised its holdings in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares during the period. BB&T Investment Services Inc. raised its holdings in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares during the period. Finally, Exane Derivatives raised its holdings in shares of Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) opened at $201.56 on Monday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $99,082.56, a price-to-earnings ratio of 56.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.18. Adobe Systems Incorporated has a 52-week low of $117.83 and a 52-week high of $204.45.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. The firm 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 22.15% and a net margin of 23.20%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. equities research analysts forecast that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on ADBE. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Tuesday, February 13th. Argus increased their price objective on Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Evercore ISI reissued a “buy” rating and issued a $220.00 price objective on shares of Adobe Systems in a research note on Friday, January 26th. Guggenheim reissued a “buy” rating and issued a $230.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Finally, Stephens reissued a “buy” rating and issued a $215.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $198.15.

In other news, CFO Mark Garrett sold 54,488 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Shantanu Narayen sold 165,023 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. Insiders sold a total of 351,199 shares of company stock valued at $67,326,422 in the last three months. Insiders own 0.38% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Adobe Systems Incorporated (ADBE) Stake Raised by Norinchukin Bank The” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://stocknewstimes.com/2018/02/19/adobe-systems-incorporated-adbe-stake-raised-by-norinchukin-bank-the.html.

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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).

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

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply