Dorsey Wright & Associates reduced its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,167 shares of the software company’s stock after selling 1,501 shares during the period. Dorsey Wright & Associates’ holdings in Adobe Systems were worth $5,984,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC raised its stake in Adobe Systems by 10.7% during the 3rd quarter. Gemmer Asset Management LLC now owns 62,538 shares of the software company’s stock worth $16,882,000 after acquiring an additional 6,052 shares in the last quarter. Rathbone Brothers plc raised its stake in Adobe Systems by 3.3% during the 3rd quarter. Rathbone Brothers plc now owns 246,931 shares of the software company’s stock worth $66,659,000 after acquiring an additional 7,797 shares in the last quarter. Retirement Capital Strategies acquired a new stake in Adobe Systems during the 3rd quarter worth $1,097,000. Gradient Investments LLC raised its stake in Adobe Systems by 27.1% during the 3rd quarter. Gradient Investments LLC now owns 4,689 shares of the software company’s stock worth $1,266,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Iberiabank Corp raised its stake in Adobe Systems by 32.5% during the 3rd quarter. Iberiabank Corp now owns 20,238 shares of the software company’s stock worth $5,463,000 after acquiring an additional 4,959 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Ann Lewnes sold 2,940 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $257.86, for a total transaction of $758,108.40. Following the transaction, the executive vice president now directly owns 64,437 shares in the company, valued at $16,615,724.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Abhay Parasnis sold 10,500 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $260.01, for a total transaction of $2,730,105.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,320 shares of company stock worth $5,031,554. Company insiders own 0.33% of the company’s stock.

NASDAQ ADBE opened at $248.87 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $131.77 billion, a price-to-earnings ratio of 69.32, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08. Adobe Systems Incorporated has a one year low of $148.15 and a one year high of $277.61.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. Adobe Systems’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. Equities analysts anticipate that Adobe Systems Incorporated will post 5.65 earnings per share for the current year.

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Adobe Systems to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 12th. KeyCorp reiterated a “buy” rating and set a $286.00 price target (up from $276.00) on shares of Adobe Systems in a research note on Friday, September 14th. Credit Suisse Group lifted their price target on shares of Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, September 14th. Guggenheim assumed coverage on shares of Adobe Systems in a research note on Tuesday, August 7th. They set a “neutral” rating and a $275.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Adobe Systems from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, June 15th. Ten research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $262.03.

Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Further Reading: Asset Allocation and Your Retirement

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

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