Caisse DE Depot ET Placement DU Quebec Boosts Holdings in Adobe Systems Incorporated (ADBE)

Caisse DE Depot ET Placement DU Quebec raised its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,148 shares of the software company’s stock after acquiring an additional 1,100 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Adobe Systems were worth $7,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ADBE. Dynamic Advisors Solutions LLC lifted its stake in shares of Adobe Systems by 15.5% during the second quarter. Dynamic Advisors Solutions LLC now owns 3,864 shares of the software company’s stock worth $547,000 after purchasing an additional 518 shares in the last quarter. Hartwell J M Limited Partnership lifted its stake in shares of Adobe Systems by 132.5% during the second quarter. Hartwell J M Limited Partnership now owns 11,950 shares of the software company’s stock worth $1,690,000 after purchasing an additional 6,810 shares in the last quarter. Iberiabank Corp lifted its stake in shares of Adobe Systems by 127.2% during the second quarter. Iberiabank Corp now owns 10,352 shares of the software company’s stock worth $1,464,000 after purchasing an additional 5,795 shares in the last quarter. Appleton Partners Inc. MA lifted its stake in shares of Adobe Systems by 0.4% during the second quarter. Appleton Partners Inc. MA now owns 25,137 shares of the software company’s stock worth $3,555,000 after purchasing an additional 99 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Adobe Systems by 23.3% during the second quarter. Bank of Montreal Can now owns 657,025 shares of the software company’s stock worth $92,927,000 after purchasing an additional 124,290 shares in the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the completion of the transaction, the executive vice president now directly owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock valued at $2,519,679 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $173.57 on Friday. The company has a market capitalization of $86,072.77, a P/E ratio of 52.59, a PEG ratio of 2.21 and a beta of 1.05. Adobe Systems Incorporated has a fifty-two week low of $101.91 and a fifty-two week high of $186.27. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results 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. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. sell-side analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

A number of brokerages have commented on ADBE. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective on the stock in a research note on Wednesday, September 20th. Barclays reiterated a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a research note on Friday, September 15th. Piper Jaffray Companies reiterated a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a research note on Tuesday, September 12th. Finally, Wells Fargo & Company reiterated a “hold” rating and issued a $145.00 price target (up previously from $127.50) on shares of Adobe Systems in a research note on Wednesday, September 20th. Five equities 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 company. The company has an average rating of “Buy” and an average price target of $176.50.

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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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