Gamco Investors INC. ET AL Buys 2,470 Shares of Adobe Systems Incorporated (ADBE)
Gamco Investors INC. ET AL lifted its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,427 shares of the software company’s stock after acquiring an additional 2,470 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Adobe Systems were worth $3,196,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems during the 2nd quarter valued at approximately $100,000. CWM LLC grew its stake in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the period. Exane Derivatives grew its stake in shares of Adobe Systems by 55.0% during the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Adobe Systems during the 2nd quarter valued at approximately $141,000. Institutional investors own 87.45% of the company’s stock.
A number of brokerages recently issued reports on ADBE. Vetr upgraded 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. Stifel Nicolaus boosted their price objective on Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. UBS AG initiated coverage on Adobe Systems in a research note on Thursday. They issued a “buy” rating and a $217.00 price target for the company. Argus upped their price target on Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $190.00 price target (up from $153.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $174.11.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $181.72 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $184.44. The firm has a market capitalization of $89,580.00, a price-to-earnings ratio of 54.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. sell-side analysts expect that Adobe Systems Incorporated will post 3.46 EPS for the current year.
In other news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total value of $353,864.07. Following the transaction, the executive vice president now directly owns 52,450 shares in the company, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,519,679 in the last three months. Corporate insiders own 0.38% of the company’s stock.
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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