Adobe Systems Incorporated (ADBE) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,846 shares of the software company’s stock after acquiring an additional 804 shares during the quarter. CIBC Asset Management Inc’s holdings in Adobe Systems were worth $13,105,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems during the second quarter worth about $100,000. CWM LLC boosted 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. Parkside Financial Bank & Trust boosted its position in Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in Adobe Systems during the second quarter worth about $141,000. Finally, Acrospire Investment Management LLC boosted its position in Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
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Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down $1.32 during trading on Tuesday, hitting $180.53. 195,029 shares of the stock traded hands, compared to its average volume of 3,050,000. Adobe Systems Incorporated has a fifty-two week low of $98.00 and a fifty-two week high of $184.44. 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 firm has a market cap of $88,990.00, a PE ratio of 54.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
In related news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Warnock sold 6,800 shares of the stock in a transaction 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 sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,849 shares of company stock valued at $2,519,679. Company insiders own 0.38% of the company’s stock.
A number of equities analysts recently weighed in on ADBE shares. Argus boosted their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Pivotal Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and boosted their price target for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr lowered shares of 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. Moffett Nathanson started coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They set a “buy” rating and a $195.00 price target on the stock. Finally, BMO Capital Markets restated an “outperform” rating on shares of Adobe Systems in a research report on Tuesday, September 12th. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $174.11.
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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