Vantage Investment Advisors LLC Increases Stake in Adobe Systems Incorporated (ADBE)

Vantage Investment Advisors LLC grew its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,433 shares of the software company’s stock after purchasing an additional 3,632 shares during the period. Adobe Systems makes up 1.8% of Vantage Investment Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Vantage Investment Advisors LLC’s holdings in Adobe Systems were worth $7,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Egerton Capital UK LLP boosted its stake in Adobe Systems by 119.6% during the fourth quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after acquiring an additional 1,596,653 shares in the last quarter. BlackRock Inc. boosted its stake in Adobe Systems by 3.6% during the first quarter. BlackRock Inc. now owns 33,861,002 shares of the software company’s stock worth $7,316,684,000 after acquiring an additional 1,185,325 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in Adobe Systems by 371.2% during the fourth quarter. Standard Life Aberdeen plc now owns 1,317,654 shares of the software company’s stock worth $230,979,000 after acquiring an additional 1,038,038 shares in the last quarter. Maverick Capital Ltd. boosted its stake in Adobe Systems by 49.2% during the fourth quarter. Maverick Capital Ltd. now owns 2,192,956 shares of the software company’s stock worth $384,294,000 after acquiring an additional 722,872 shares in the last quarter. Finally, Winslow Capital Management LLC boosted its stake in Adobe Systems by 77.9% during the fourth quarter. Winslow Capital Management LLC now owns 1,559,046 shares of the software company’s stock worth $273,207,000 after acquiring an additional 682,503 shares in the last quarter. 85.97% of the stock is currently owned by hedge funds and other institutional investors.

In other Adobe Systems news, EVP Ann Lewnes sold 2,942 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $236.59, for a total transaction of $696,047.78. Following the completion of the sale, the executive vice president now directly owns 70,322 shares of the company’s stock, valued at $16,637,481.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Warnock sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the sale, the director now directly owns 16,088 shares of the company’s stock, valued at $3,618,834.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,819 shares of company stock valued at $10,451,729. 0.33% of the stock is owned by corporate insiders.

ADBE has been the topic of several research reports. JMP Securities lowered shares of Adobe Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, March 26th. Royal Bank of Canada boosted their price objective on shares of Adobe Systems to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. DZ Bank upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. BMO Capital Markets upped their target price on shares of Adobe Systems from $205.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, March 16th. They noted that the move was a valuation call. Finally, Jefferies Group upped their target price on shares of Adobe Systems to $263.00 and gave the stock a “buy” rating in a research note on Friday, March 16th. Ten research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $221.38.

Adobe Systems opened at $243.56 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12. Adobe Systems Incorporated has a twelve month low of $131.20 and a twelve month high of $245.90. The company has a market cap of $120.73 billion, a PE ratio of 67.84, a P/E/G ratio of 2.83 and a beta of 1.04.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating the 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 analysts’ expectations of $2.05 billion. During the same period in the previous year, the company earned ($0.43) earnings per share. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. research analysts predict that Adobe Systems Incorporated will post 5.35 EPS for the current fiscal year.

Adobe Systems announced that its Board of Directors has approved a share buyback plan on Monday, May 21st that allows the company to buyback $8.00 billion in shares. This buyback authorization allows the software company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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).

Institutional Ownership by Quarter for Adobe Systems (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.

Leave a Reply