Mitsubishi UFJ Trust & Banking Corp boosted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,031,804 shares of the software company’s stock after purchasing an additional 10,888 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.21% of Adobe Systems worth $145,938,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. 1ST Source Bank grew its position in Adobe Systems by 0.3% in the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America lifted its stake in shares of Adobe Systems by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Adobe Systems by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton lifted its stake in shares of Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after buying an additional 20 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a report on Tuesday. Jefferies Group LLC restated a “buy” rating and issued a $175.00 target price on shares of Adobe Systems in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating on shares of Adobe Systems in a report on Tuesday. Vetr upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $150.30 price target on the stock in a report on Wednesday, September 6th. Finally, BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $153.88.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 156.31 on Wednesday. The firm has a market capitalization of $77.12 billion, a price-to-earnings ratio of 54.44 and a beta of 1.00. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $157.89. The stock’s 50 day moving average price is $150.25 and its 200 day moving average price is $138.58.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. Analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
In other news, EVP Donna Morris sold 5,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total transaction of $725,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John E. Warnock sold 32,600 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,006 shares of company stock valued at $14,566,440. Insiders own 0.38% of the company’s stock.
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Adobe Systems Company 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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