Dai Ichi Life Insurance Company Ltd lowered its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,011 shares of the software company’s stock after selling 5,116 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Adobe Systems were worth $17,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clean Yield Group acquired a new position in Adobe Systems during the first quarter worth about $100,000. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems during the second quarter worth about $100,000. CWM LLC raised its position in Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Adobe Systems by 86.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in Adobe Systems during the second quarter worth about $141,000. Institutional investors own 87.40% of the company’s stock.

Adobe Systems Incorporated (NASDAQ ADBE) opened at 148.50 on Monday. The stock has a market capitalization of $73.27 billion, a P/E ratio of 46.68 and a beta of 1.00. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. The stock has a 50 day moving average of $151.61 and a 200 day moving average of $140.16.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. On average, equities research analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current fiscal year.

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In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares in the company, valued at $8,638,704. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abhay Parasnis sold 12,500 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $149.38, for a total transaction of $1,867,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,359 shares of company stock worth $9,449,192. 0.38% of the stock is currently owned by corporate insiders.

A number of brokerages have issued reports on ADBE. BMO Capital Markets restated an “outperform” rating on shares of Adobe Systems in a research report on Tuesday, September 12th. Jefferies Group LLC restated a “buy” rating and set a $175.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Canaccord Genuity restated a “buy” rating and set a $170.00 target price (up previously from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Wells Fargo & Company restated a “hold” rating and set a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $163.00 target price on shares of Adobe Systems in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $158.25.

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

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