Adobe Systems Incorporated (ADBE) Holdings Reduced by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. cut its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,581 shares of the software company’s stock after selling 1,435 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Adobe Systems were worth $3,518,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after purchasing an additional 9,957,241 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after purchasing an additional 2,621,275 shares during the last quarter. FMR LLC increased its holdings in shares of Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC increased its holdings in shares of Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after purchasing an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Adobe Systems by 45.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after purchasing an additional 1,190,108 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
ADBE has been the topic of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Jefferies Group LLC initiated coverage on Adobe Systems in a report on Thursday, August 24th. They issued a “buy” rating and a $175.00 target price on the stock. Bank of America Corporation lifted their target price on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Finally, Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a report on Thursday, August 31st. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems has an average rating of “Buy” and a consensus price target of $175.43.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $182.90 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $185.55. The firm has a market capitalization of $90,159.27, a P/E ratio of 55.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. equities analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock valued at $2,519,679 in the last 90 days. Company 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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