Cornerstone Capital Management Holdings LLC. grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,579 shares of the software company’s stock after purchasing an additional 2,361 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Adobe Systems were worth $25,159,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Egerton Capital UK LLP increased its holdings in shares of Adobe Systems by 119.6% during the 4th quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after buying an additional 1,596,653 shares during the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Adobe Systems by 371.2% during the 4th quarter. Standard Life Aberdeen plc now owns 1,317,654 shares of the software company’s stock worth $230,979,000 after buying an additional 1,038,038 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Adobe Systems by 49.2% during the 4th quarter. Maverick Capital Ltd. now owns 2,192,956 shares of the software company’s stock worth $384,294,000 after buying an additional 722,872 shares during the last quarter. Winslow Capital Management LLC increased its holdings in shares of Adobe Systems by 77.9% during the 4th quarter. Winslow Capital Management LLC now owns 1,559,046 shares of the software company’s stock worth $273,207,000 after buying an additional 682,503 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Adobe Systems by 556.2% during the 4th quarter. Schroder Investment Management Group now owns 711,219 shares of the software company’s stock worth $124,634,000 after buying an additional 602,832 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.
ADBE has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Royal Bank of Canada lifted their target price on shares of Adobe Systems to $235.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Vetr downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 target price for the company. in a report on Monday, December 18th. Barclays lifted their target price on shares of Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Stephens reiterated a “buy” rating and issued a $210.00 target price on shares of Adobe Systems in a report on Wednesday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $201.26.
In other news, Director Amy Banse acquired 1,125 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average cost of $177.35 per share, with a total value of $199,518.75. Following the transaction, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. In the last 90 days, insiders sold 349,246 shares of company stock valued at $66,987,577. Insiders own 0.33% of the company’s stock.
Adobe Systems Incorporated (ADBE) opened at $219.76 on Wednesday. The company has a market cap of $108,997.10, a price-to-earnings ratio of 64.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 12 month low of $120.62 and a 12 month high of $224.90.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ 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%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. sell-side analysts forecast that Adobe Systems Incorporated will post 5.12 EPS for the current year.
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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