Standard Life Aberdeen plc boosted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 371.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,317,654 shares of the software company’s stock after buying an additional 1,038,038 shares during the quarter. Standard Life Aberdeen plc owned 0.27% of Adobe Systems worth $230,979,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new stake in shares of Adobe Systems in the 4th quarter valued at $118,000. Community Bank N.A. acquired a new stake in shares of Adobe Systems in the 4th quarter valued at $122,000. Parkside Financial Bank & Trust raised its holdings 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 purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. raised its holdings 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 purchasing an additional 275 shares in the last quarter. Finally, Cibc Bank USA acquired a new stake in shares of Adobe Systems in the 4th quarter valued at $202,000. Institutional investors own 86.18% of the company’s stock.
ADBE has been the topic of a number of analyst reports. Cowen restated a “buy” rating and issued a $200.00 price objective on shares of Adobe Systems in a report on Monday, December 11th. Vetr upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $172.83 price objective on the stock in a report on Thursday, November 2nd. Pivotal Research restated a “hold” rating and issued a $162.00 price objective (up from $160.00) on shares of Adobe Systems in a report on Friday, December 15th. Sanford C. Bernstein increased their target price on shares of Adobe Systems from $208.00 to $223.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $220.00 target price (up from $195.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems currently has a consensus rating of “Buy” and an average price target of $198.15.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $202.09 on Thursday. Adobe Systems Incorporated has a 52-week low of $117.83 and a 52-week high of $206.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $99,340.00, a price-to-earnings ratio of 60.23, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm posted $0.90 EPS. Adobe Systems’s revenue for the quarter was up 24.8% on a year-over-year basis. equities analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.
In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total value of $338,845.50. Following the sale, the executive vice president now owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse bought 1,125 shares of the stock in a transaction dated Monday, December 18th. The stock was purchased at an average cost of $177.35 per share, for a total transaction of $199,518.75. Following the acquisition, the director now owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 351,199 shares of company stock worth $67,326,422. Insiders own 0.38% of the company’s stock.
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Adobe Systems Profile
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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