Great West Life Assurance Co. Can lifted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 13.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 517,173 shares of the software company’s stock after buying an additional 59,670 shares during the quarter. Great West Life Assurance Co. Can owned about 0.10% of Adobe Systems worth $76,120,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Aviva PLC raised its position in Adobe Systems by 0.4% during the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after purchasing an additional 1,250 shares in the last quarter. Bender Robert & Associates purchased a new position in Adobe Systems during the 3rd quarter worth $3,476,000. Arcadia Investment Management Corp MI grew its stake in Adobe Systems by 6.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after buying an additional 2,242 shares during the last quarter. BARING ASSET MANAGEMENT Ltd grew its stake in Adobe Systems by 12.0% during the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after purchasing an additional 2,864 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in Adobe Systems during the 2nd quarter valued at about $411,000. 87.45% of the stock is currently owned by institutional investors.
In other news, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total value of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Company insiders own 0.38% of the company’s stock.
A number of brokerages have commented on ADBE. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective for the company in a research report on Tuesday. 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 from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Finally, Oppenheimer reiterated a “hold” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $176.50.
Adobe Systems Incorporated (NASDAQ:ADBE) traded down $0.90 during midday trading on Wednesday, reaching $167.54. 4,698,700 shares of the company’s stock traded hands, compared to its average volume of 2,430,986. The firm has a market cap of $83,031.32, a price-to-earnings ratio of 50.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. 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 $100.71 and a 52 week high of $186.27.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. sell-side analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Adobe Systems Incorporated (NASDAQ:ADBE) Shares Bought by Great West Life Assurance Co. Can” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://ledgergazette.com/2017/12/06/great-west-life-assurance-co-can-raises-holdings-in-adobe-systems-incorporated-adbe.html.
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.
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.