Canada Pension Plan Investment Board increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 23.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 930,850 shares of the software company’s stock after acquiring an additional 178,100 shares during the period. Canada Pension Plan Investment Board owned approximately 0.19% of Adobe Systems worth $138,864,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 1ST Source Bank lifted its position in Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares during the period. Guardian Life Insurance Co. of America lifted its position in Adobe Systems by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares during the period. Perigon Wealth Management LLC lifted its position in Adobe Systems by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares during the period. Trust Co. of Vermont lifted its position in Adobe Systems by 0.6% during the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares during the period. Finally, Bank of Stockton lifted its position in Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares during the period. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Adobe Systems Incorporated (ADBE) Position Lifted by Canada Pension Plan Investment Board” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://theolympiareport.com/2017/11/02/adobe-systems-incorporated-adbe-position-lifted-by-canada-pension-plan-investment-board.html.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the transaction, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock valued at $2,452,281 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS.

Several equities analysts recently weighed in on the company. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $172.83 target price on the stock in a research report on Thursday. Royal Bank Of Canada reiterated a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. Finally, Cowen and Company restated an “outperform” rating and set a $165.00 price target on shares of Adobe Systems in a research note on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $170.06.

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.

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 Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.