Wedbush Securities Inc. grew its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,002 shares of the software company’s stock after purchasing an additional 694 shares during the quarter. Wedbush Securities Inc.’s holdings in Adobe Systems were worth $2,804,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Cerebellum GP LLC bought a new stake in shares of Adobe Systems in the 4th quarter valued at $118,000. Community Bank N.A. bought a new stake in shares of Adobe Systems in the 4th quarter valued at $122,000. Parkside Financial Bank & Trust increased its stake in shares of Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. increased its stake in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares in the last quarter. Finally, Exane Derivatives increased its stake in shares of Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $201.56 on Monday. 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 current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $99,082.56, a price-to-earnings ratio of 59.46, a P/E/G ratio of 2.46 and a beta of 1.18.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. Adobe Systems’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. equities analysts forecast that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.
Several research firms have recently weighed in on ADBE. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Tuesday, February 13th. Argus lifted their price objective on shares of Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a research note 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 note on Friday, January 26th. Guggenheim reiterated a “buy” rating and issued a $230.00 price objective on shares of Adobe Systems in a research note 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 note on Tuesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $198.15.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total transaction of $338,845.50. Following the transaction, the executive vice president now directly owns 50,497 shares of the company’s stock, valued at approximately $8,761,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total transaction of $10,209,961.44. The disclosure for this sale can be found here. Insiders have sold a total of 351,199 shares of company stock worth $67,326,422 over the last ninety days. Insiders own 0.38% of the company’s stock.
WARNING: This piece was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://ledgergazette.com/2018/02/19/wedbush-securities-inc-has-2-80-million-holdings-in-adobe-systems-incorporated-adbe-2.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.
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).
Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.