790 Shares in Adobe Systems Incorporated (ADBE) Purchased by Sullivan Bruyette Speros & Blaney LLC

Sullivan Bruyette Speros & Blaney LLC bought a new stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 790 shares of the software company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. Pioneer Trust Bank N A OR lifted its holdings in Adobe Systems by 8.0% during the second quarter. Pioneer Trust Bank N A OR now owns 2,700 shares of the software company’s stock worth $658,000 after acquiring an additional 200 shares during the period. RB Capital Management LLC lifted its holdings in Adobe Systems by 4.7% during the second quarter. RB Capital Management LLC now owns 4,416 shares of the software company’s stock worth $1,077,000 after acquiring an additional 200 shares during the period. Violich Capital Management Inc. increased its position in Adobe Systems by 6.8% in the second quarter. Violich Capital Management Inc. now owns 3,125 shares of the software company’s stock worth $762,000 after buying an additional 200 shares during the last quarter. Andra AP fonden increased its position in Adobe Systems by 0.7% in the third quarter. Andra AP fonden now owns 27,700 shares of the software company’s stock worth $7,478,000 after buying an additional 200 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Adobe Systems by 1.6% in the second quarter. Wetherby Asset Management Inc. now owns 13,344 shares of the software company’s stock worth $3,254,000 after buying an additional 213 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.

A number of analysts have issued reports on ADBE shares. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research report on Thursday, October 4th. BidaskClub downgraded Adobe Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Guggenheim started coverage on Adobe Systems in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $275.00 target price for the company. Credit Suisse Group raised their target price on Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Finally, KeyCorp reissued a “buy” rating and issued a $286.00 target price (up from $276.00) on shares of Adobe Systems in a research report on Friday, September 14th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $269.17.



In other news, EVP Ann Lewnes sold 2,939 shares of Adobe Systems stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $253.80, for a total value of $745,918.20. Following the completion of the transaction, the executive vice president now directly owns 61,498 shares in the company, valued at $15,608,192.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 8,790 shares of company stock valued at $2,303,462. 0.33% of the stock is owned by company insiders.

Shares of NASDAQ ADBE traded down $7.26 during mid-day trading on Tuesday, hitting $232.49. The company had a trading volume of 189,703 shares, compared to its average volume of 4,601,769. The stock has a market cap of $119.98 billion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 2.65 and a beta of 1.08. Adobe Systems Incorporated has a 1 year low of $165.68 and a 1 year high of $277.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. On average, sell-side analysts predict that Adobe Systems Incorporated will post 5.66 EPS for the current year.

Adobe Systems Profile

Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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