Adobe Systems Incorporated (ADBE) Stake Maintained by Murphy Capital Management Inc.
Murphy Capital Management Inc. maintained its position in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, Holdings Channel reports. The firm owned 1,877 shares of the software company’s stock at the end of the second quarter. Murphy Capital Management Inc.’s holdings in Adobe Systems were worth $265,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after buying an additional 30,228,013 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock valued at $438,907,000 after buying an additional 1,619,111 shares in the last quarter. Egerton Capital UK LLP purchased a new position in shares of Adobe Systems during the first quarter valued at about $209,666,000. Pioneer Investment Management Inc. purchased a new position in shares of Adobe Systems during the first quarter valued at about $201,774,000. Finally, Wellington Management Group LLP raised its position in shares of Adobe Systems by 40.3% in the first 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 in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.
Adobe Systems Incorporated (ADBE) traded up 0.23% during mid-day trading on Monday, hitting $148.05. 560,109 shares of the company were exchanged. The company has a market capitalization of $73.05 billion, a P/E ratio of 51.57 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $97.15 and a 12-month high of $150.40. The company’s 50-day moving average is $144.12 and its 200 day moving average is $131.39.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.71 earnings per share. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. Analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current year.
Several brokerages recently issued reports on ADBE. Bank of America Corporation restated a “buy” rating and set a $184.00 price target (up from $160.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Guggenheim began coverage on Adobe Systems in a research note on Wednesday, April 12th. They set a “buy” rating and a $155.00 price target on the stock. Stifel Nicolaus began coverage on Adobe Systems in a research note on Tuesday, April 11th. They set a “buy” rating and a $150.00 price target on the stock. Pivotal Research lowered Adobe Systems from a “hold” rating to a “sell” rating and boosted their price target for the company from $109.00 to $112.00 in a research note on Monday, June 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $137.00 price target on shares of Adobe Systems in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $153.20.
In other Adobe Systems news, EVP Donna Morris sold 5,000 shares of Adobe Systems stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $145.00, for a total value of $725,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of Adobe Systems stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $135.86, for a total transaction of $303,375.38. Following the completion of the sale, the executive vice president now directly owns 64,177 shares of the company’s stock, valued at $8,719,087.22. The disclosure for this sale can be found here. Insiders have sold 102,519 shares of company stock valued at $14,894,384 in the last three months. 0.38% of the stock is owned by insiders.
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.
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