Prudential PLC Buys 700 Shares of Adobe Systems Incorporated (ADBE)

Prudential PLC grew its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,384 shares of the software company’s stock after acquiring an additional 700 shares during the period. Prudential PLC’s holdings in Adobe Systems were worth $1,186,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADBE. Waldron LP lifted its position in shares of Adobe Systems by 96.9% during the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock worth $689,000 after acquiring an additional 2,701 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Adobe Systems by 9.8% during the first quarter. NEXT Financial Group Inc now owns 1,677 shares of the software company’s stock worth $224,000 after acquiring an additional 150 shares in the last quarter. Pioneer Investment Management Inc. purchased a new stake in shares of Adobe Systems during the first quarter worth $201,774,000. State of Wisconsin Investment Board lifted its position in shares of Adobe Systems by 20.1% during the first quarter. State of Wisconsin Investment Board now owns 574,954 shares of the software company’s stock worth $74,819,000 after acquiring an additional 96,257 shares in the last quarter. Finally, Insight Capital Research & Management Inc. lifted its position in shares of Adobe Systems by 81.6% during the first quarter. Insight Capital Research & Management Inc. now owns 14,907 shares of the software company’s stock worth $1,940,000 after acquiring an additional 6,698 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 51,406 shares of company stock worth $7,587,150 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Prudential PLC Buys 700 Shares of Adobe Systems Incorporated (ADBE)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/11/prudential-plc-buys-700-shares-of-adobe-systems-incorporated-adbe.html.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 152.15 on Wednesday. The company has a market capitalization of $75.00 billion, a PE ratio of 47.83 and a beta of 0.98. The company has a 50 day moving average price of $151.80 and a 200 day moving average price of $142.93. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.

A number of brokerages recently issued reports on ADBE. Cowen and Company reiterated an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a research report on Tuesday, October 3rd. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Canaccord Genuity reiterated a “buy” rating and issued a $170.00 price objective (up previously from $165.00)

Several other large investors also recently bought and sold shares of ADBE. Waldron LP lifted its position in shares of Adobe Systems by 96.9% during the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock worth $689,000 after acquiring an additional 2,701 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Adobe Systems by 9.8% during the first quarter. NEXT Financial Group Inc now owns 1,677 shares of the software company’s stock worth $224,000 after acquiring an additional 150 shares in the last quarter. Pioneer Investment Management Inc. purchased a new stake in shares of Adobe Systems during the first quarter worth $201,774,000. State of Wisconsin Investment Board lifted its position in shares of Adobe Systems by 20.1% during the first quarter. State of Wisconsin Investment Board now owns 574,954 shares of the software company’s stock worth $74,819,000 after acquiring an additional 96,257 shares in the last quarter. Finally, Insight Capital Research & Management Inc. lifted its position in shares of Adobe Systems by 81.6% during the first quarter. Insight Capital Research & Management Inc. now owns 14,907 shares of the software company’s stock worth $1,940,000 after acquiring an additional 6,698 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 51,406 shares of company stock worth $7,587,150 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Prudential PLC Buys 700 Shares of Adobe Systems Incorporated (ADBE)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/11/prudential-plc-buys-700-shares-of-adobe-systems-incorporated-adbe.html.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 152.15 on Wednesday. The company has a market capitalization of $75.00 billion, a PE ratio of 47.83 and a beta of 0.98. The company has a 50 day moving average price of $151.80 and a 200 day moving average price of $142.93. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.

A number of brokerages recently issued reports on ADBE. Cowen and Company reiterated an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a research report on Tuesday, October 3rd. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating on shares of Adobe Systems in a research 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 research report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and a consensus target price of $158.16.

About Adobe Systems

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.

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

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