Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 112,239 shares of the software company’s stock after purchasing an additional 2,806 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Adobe Systems were worth $16,744,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems in the second quarter valued at about $100,000. Parkside Financial Bank & Trust lifted its stake in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in Adobe Systems in the second quarter valued at about $141,000. Acrospire Investment Management LLC lifted its stake in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new position in Adobe Systems in the second quarter valued at about $141,000. Institutional investors own 87.45% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up $1.09 during mid-day trading on Thursday, reaching $174.61. The company’s stock had a trading volume of 2,440,892 shares, compared to its average volume of 2,436,712. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $86,270.00, a P/E ratio of 50.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Adobe Systems Incorporated has a 12-month low of $101.91 and a 12-month high of $186.27.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. equities analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
In other news, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction that occurred 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 transaction, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock valued at $2,519,679 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.
ADBE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target on the stock. in a research report on Thursday, August 31st. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Bank of America increased their price objective on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Finally, UBS started coverage on Adobe Systems in a report on Thursday, November 9th. They set a “buy” rating and a $217.00 price objective for the company. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $176.50.
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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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