Segall Bryant & Hamill LLC reduced its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,178 shares of the software company’s stock after selling 23,237 shares during the period. Adobe Systems makes up about 2.3% of Segall Bryant & Hamill LLC’s holdings, making the stock its largest holding. Segall Bryant & Hamill LLC owned 0.12% of Adobe Systems worth $102,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of ADBE. Avestar Capital LLC purchased a new stake in Adobe Systems during the fourth quarter valued at about $109,000. Cerebellum GP LLC purchased a new stake in Adobe Systems during the fourth quarter valued at about $118,000. Community Bank N.A. purchased a new stake in Adobe Systems during the fourth quarter valued at about $122,000. BB&T Investment Services Inc. raised its position in Adobe Systems by 42.4% during the third 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, Truewealth LLC purchased a new stake in Adobe Systems during the fourth quarter valued at about $162,000. 87.02% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Charles M. Geschke sold 21,276 shares of Adobe Systems stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total transaction of $3,969,037.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Shantanu Narayen sold 165,023 shares of Adobe Systems stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The disclosure for this sale can be found here. Insiders have sold 349,246 shares of company stock valued at $66,987,577 over the last quarter. Company insiders own 0.33% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays raised their price target on Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Tuesday, February 13th. Jefferies Group raised their price target on Adobe Systems to $263.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp raised their price target on Adobe Systems to $252.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird restated a “buy” rating and set a $200.00 price target on shares of Adobe Systems in a research report on Friday, December 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $214.06.
Shares of Adobe Systems stock opened at $224.10 on Monday. The company has a current ratio of 2.12, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $111,271.38, a P/E ratio of 59.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Adobe Systems Incorporated has a 12-month low of $124.51 and a 12-month high of $228.88.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business earned ($0.43) earnings per share. The business’s revenue was up 23.6% on a year-over-year basis. equities research analysts anticipate that Adobe Systems Incorporated will post 5.23 earnings per share for the current year.
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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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