Eaton Vance Management boosted its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 895,685 shares of the software company’s stock after buying an additional 61,093 shares during the quarter. Eaton Vance Management owned approximately 0.18% of Adobe Systems worth $156,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in ADBE. Polen Capital Management LLC boosted its holdings in shares of Adobe Systems by 1.2% in the fourth quarter. Polen Capital Management LLC now owns 6,362,305 shares of the software company’s stock worth $1,114,930,000 after acquiring an additional 73,489 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Adobe Systems by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock worth $826,991,000 after acquiring an additional 488,904 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Adobe Systems by 2.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,368,796 shares of the software company’s stock worth $940,828,000 after acquiring an additional 128,148 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Adobe Systems by 2.1% in the third quarter. Wells Fargo & Company MN now owns 2,956,394 shares of the software company’s stock worth $441,035,000 after acquiring an additional 59,616 shares during the period. Finally, Egerton Capital UK LLP boosted its holdings in shares of Adobe Systems by 119.6% in the fourth quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after acquiring an additional 1,596,653 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on ADBE. Bank of America reissued a “buy” rating and set a $220.00 price objective (up previously from $213.00) on shares of Adobe Systems in a research note on Wednesday, December 13th. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price objective for the company in a research note on Monday, November 13th. Zacks Investment Research lowered Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. UBS Group began coverage on Adobe Systems in a research note on Thursday, November 9th. They set a “buy” rating and a $217.00 price objective for the company. Finally, Argus lifted their price objective on Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has an average rating of “Buy” and a consensus price target of $198.15.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $202.09 on Thursday. The company has a market capitalization of $99,780.60, a PE ratio of 59.61, a PEG ratio of 2.48 and a beta of 1.18. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22. Adobe Systems Incorporated has a twelve month low of $117.83 and a twelve month high of $206.83.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. research analysts expect that Adobe Systems Incorporated will post 5.12 EPS for the current year.
In related news, Director Amy Banse acquired 1,125 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the transaction, the executive vice president now owns 50,497 shares in the company, valued at approximately $8,761,229.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,199 shares of company stock worth $67,326,422. Company insiders own 0.38% of the company’s stock.
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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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