Schroder Investment Management Group Lowers Holdings in Adobe Systems Incorporated (ADBE)
Schroder Investment Management Group lessened its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 44.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,387 shares of the software company’s stock after selling 85,558 shares during the period. Schroder Investment Management Group’s holdings in Adobe Systems were worth $15,915,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ADBE. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems in the second quarter worth about $100,000. Parkside Financial Bank & Trust boosted its position in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe Systems in the second quarter worth about $141,000. Acrospire Investment Management LLC boosted its position in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. Finally, CWH Capital Management Inc. purchased a new stake in shares of Adobe Systems in the second quarter worth about $141,000. 87.45% of the stock is owned by hedge funds and other institutional investors.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock worth $2,519,679 in the last 90 days. 0.38% of the stock is currently owned by insiders.
ADBE has been the subject of several analyst reports. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $165.00 target price on shares of Adobe Systems in a research report on Thursday, September 21st. Robert W. Baird set a $160.00 target price on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Barclays upped their target price on Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, October 19th. Finally, Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a research report on Thursday, August 31st. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $176.50.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $167.54 on Wednesday. Adobe Systems Incorporated has a one year low of $100.71 and a one year high of $186.27. The stock has a market capitalization of $83,031.32, a P/E ratio of 50.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts expect that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
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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.
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