KCS Wealth Advisory purchased a new position in Adobe Systems Incorporated (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,240 shares of the software company’s stock, valued at approximately $393,000.

A number of other hedge funds have also made changes to their positions in the stock. Parkside Financial Bank & Trust raised its holdings in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. raised its holdings in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares in the last quarter. Exane Derivatives raised its holdings in Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after purchasing an additional 340 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the second quarter worth $141,000. Finally, Acrospire Investment Management LLC raised its holdings in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. 87.08% of the stock is owned by institutional investors.

In related news, EVP Matthew Thompson sold 2,190 shares of Adobe Systems 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 25,000 shares of Adobe Systems stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $175.39, for a total value of $4,384,750.00. Following the completion of the sale, the director now owns 12,375 shares of the company’s stock, valued at $2,170,451.25. The disclosure for this sale can be found here. Insiders sold a total of 88,772 shares of company stock valued at $15,798,527 over the last quarter. 0.38% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on ADBE shares. Barclays reiterated a “buy” rating and issued a $167.00 price objective on shares of Adobe Systems in a report on Friday, September 15th. Credit Suisse Group downgraded Adobe Systems to a “hold” rating and set a $160.00 price objective for the company. in a report on Sunday, September 17th. Wells Fargo & Co reiterated a “hold” rating and issued a $145.00 price objective (up previously from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Canaccord Genuity reiterated a “buy” rating and issued a $170.00 price objective (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Jefferies Group reiterated a “buy” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Eight research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $187.06.

Shares of Adobe Systems Incorporated (ADBE) opened at $195.05 on Friday. Adobe Systems Incorporated has a twelve month low of $107.06 and a twelve month high of $195.50. The company has a market capitalization of $96,150.00, a PE ratio of 57.54, a P/E/G ratio of 2.43 and a beta of 1.05. 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 (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $0.90 EPS. Adobe Systems’s revenue for the quarter was up 24.8% on a year-over-year basis. analysts predict that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.

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

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