Gateway Investment Advisers LLC lessened its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 343,288 shares of the software company’s stock after selling 53,457 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Adobe Systems were worth $60,158,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Parkside Financial Bank & Trust boosted 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 worth $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. boosted its stake in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems during the 2nd quarter worth about $141,000. Acrospire Investment Management LLC boosted its stake in Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the period. Finally, CWH Capital Management Inc. bought a new stake in Adobe Systems during the 2nd quarter valued at approximately $141,000. Institutional investors own 87.08% of the company’s stock.

In other news, Director Charles M. Geschke sold 21,276 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total value of $3,969,037.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Banse bought 1,125 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares in the company, valued at approximately $5,578,189.55. The disclosure for this purchase can be found here. Insiders sold a total of 88,772 shares of company stock valued at $15,798,527 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $196.49 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 52-week low of $107.53 and a 52-week high of $198.21. The company has a market capitalization of $94,871.81, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the Zacks’ 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 quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. sell-side analysts expect that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.

ADBE has been the subject of several recent analyst reports. Wells Fargo & Co restated a “hold” rating and set a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a research note on Wednesday, September 20th. Credit Suisse Group restated a “positive” rating and set a $170.00 target price (up previously from $160.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 target price (up previously from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Jefferies Group restated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a research note on Wednesday, September 20th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and an average target price of $187.00.

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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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