Adobe Systems Incorporated (ADBE) Position Reduced by Financial Counselors Inc.

Financial Counselors Inc. reduced its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 10.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,094 shares of the software company’s stock after selling 1,163 shares during the quarter. Financial Counselors Inc.’s holdings in Adobe Systems were worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares in the last quarter. BlackRock Inc. raised its holdings in Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after purchasing an additional 2,621,275 shares in the last quarter. Vanguard Group Inc. raised its holdings in Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after purchasing an additional 943,487 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after purchasing an additional 9,957,241 shares in the last quarter. Finally, Polen Capital Management LLC raised its holdings in Adobe Systems by 31.5% in the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after purchasing an additional 1,452,892 shares in the last quarter. Institutional investors own 87.45% of the company’s stock.

In related news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,519,679 over the last three months. 0.38% of the stock is currently owned by insiders.

ADBE has been the subject of several research reports. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Jefferies Group initiated coverage on shares of Adobe Systems in a report on Thursday, August 24th. They issued a “buy” rating and a $175.00 price objective for the company. Bank of America upped their price objective on shares of Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Vetr lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a report on Thursday, August 31st. Finally, Robert W. Baird restated a “buy” rating and issued a $160.00 price objective on shares of Adobe Systems in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $176.50.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $167.54 on Wednesday. Adobe Systems Incorporated has a 1 year low of $100.71 and a 1 year high of $186.27. The company has a market cap of $83,031.32, a PE ratio of 50.74, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis. equities analysts predict that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.

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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.

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

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