Mackenzie Financial Corp Acquires Shares of 26,000 Adobe Systems Incorporated (ADBE)
Mackenzie Financial Corp acquired a new position in Adobe Systems Incorporated (NASDAQ:ADBE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,000 shares of the software company’s stock, valued at approximately $3,879,000.
Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems in the second quarter worth $100,000. Parkside Financial Bank & Trust boosted its holdings in shares of Adobe Systems by 170.3% during the third 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 boosted its holdings in shares of Adobe Systems by 55.0% during the third 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. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems during the second quarter valued at $141,000. Finally, Acrospire Investment Management LLC boosted its holdings in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares during the period. 87.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Adobe Systems Incorporated (ADBE) opened at $173.57 on Friday. 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 1 year low of $101.91 and a 1 year high of $186.27. The company has a market cap of $86,072.77, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping 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 firm 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 business earned $0.75 earnings per share. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current year.
Several equities analysts have recently issued reports on ADBE shares. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Jefferies Group started coverage on shares of Adobe Systems in a report on Thursday, August 24th. They set a “buy” rating and a $175.00 price target for the company. Bank of America boosted their price target on shares of Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 25th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target for the company. in a report on Thursday, August 31st. Finally, Robert W. Baird reissued a “buy” rating and set a $160.00 price target on shares of Adobe Systems in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $176.50.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by company insiders.
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Adobe Systems Profile
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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