Saturna Capital CORP raised its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 536,830 shares of the software company’s stock after acquiring an additional 1,356 shares during the quarter. Adobe Systems makes up 2.6% of Saturna Capital CORP’s portfolio, making the stock its 3rd largest holding. Saturna Capital CORP owned 0.11% of Adobe Systems worth $80,433,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in shares of Adobe Systems by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 803,731 shares of the software company’s stock worth $119,767,000 after acquiring an additional 3,940 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Adobe Systems by 10.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 253,942 shares of the software company’s stock valued at $37,883,000 after buying an additional 24,348 shares in the last quarter. AMP Capital Investors Ltd lifted its stake in shares of Adobe Systems by 9.9% during the 3rd quarter. AMP Capital Investors Ltd now owns 401,762 shares of the software company’s stock valued at $59,935,000 after buying an additional 36,112 shares in the last quarter. OZ Management LP purchased a new position in shares of Adobe Systems during the 3rd quarter valued at $3,426,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Adobe Systems by 250.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 291,766 shares of the software company’s stock valued at $43,526,000 after buying an additional 208,397 shares in the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total value of $353,864.07. Following the sale, the executive vice president now directly owns 52,450 shares in the company, valued at approximately $9,503,415.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,849 shares of company stock worth $2,519,679. Insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (ADBE) opened at $173.52 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $82,587.66, a price-to-earnings ratio of 50.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Adobe Systems Incorporated has a fifty-two week low of $100.89 and a fifty-two week high of $186.27.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts predict that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
ADBE has been the topic of a number of analyst reports. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Jefferies Group initiated coverage on shares of Adobe Systems in a research note on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. Bank of America lifted their target price on shares of Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 25th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a research note on Thursday, August 31st. Finally, Robert W. Baird restated a “buy” rating and set a $160.00 target price on shares of Adobe Systems in a research note on Friday, September 1st. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $176.50.
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Adobe Systems Company 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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