Tower Research Capital LLC TRC Buys 10,055 Shares of Adobe Systems Incorporated (ADBE)

Tower Research Capital LLC TRC increased its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1,459.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,744 shares of the software company’s stock after purchasing an additional 10,055 shares during the period. Tower Research Capital LLC TRC’s holdings in Adobe Systems were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerebellum GP LLC purchased a new position in Adobe Systems in the fourth quarter worth $118,000. Community Bank N.A. purchased a new position in Adobe Systems in the fourth quarter worth $122,000. Parkside Financial Bank & Trust raised its position in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. raised its position in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares in the last quarter. Finally, Exane Derivatives raised its position in Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $201.56 on Friday. The company has a market capitalization of $99,082.46, a PE ratio of 56.94, a P/E/G ratio of 2.46 and a beta of 1.18. Adobe Systems Incorporated has a 52-week low of $117.83 and a 52-week high of $204.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. analysts expect that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

In other Adobe Systems news, EVP Donna Morris sold 29,404 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $197.62, for a total value of $5,810,818.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Shantanu Narayen sold 165,023 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,199 shares of company stock valued at $67,326,422. 0.38% of the stock is currently owned by company insiders.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Tuesday, February 13th. Argus increased their price objective on Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and issued a $220.00 price objective on shares of Adobe Systems in a research report on Friday, January 26th. Guggenheim reiterated a “buy” rating and issued a $230.00 price objective on shares of Adobe Systems in a research report on Tuesday, January 23rd. Finally, Stephens reiterated a “buy” rating and issued a $215.00 price objective on shares of Adobe Systems in a research report on Tuesday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $198.15.

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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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