Evermay Wealth Management LLC bought a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,753 shares of the software company’s stock, valued at approximately $307,000.

Several other large investors have also modified their holdings of the business. Cerebellum GP LLC acquired a new stake in shares of Adobe Systems in the 4th quarter worth about $118,000. Community Bank N.A. acquired a new stake in shares of Adobe Systems in the 4th quarter worth about $122,000. Parkside Financial Bank & Trust increased its holdings in shares of Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares during the period. BB&T Investment Services Inc. increased its holdings in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares during the period. Finally, Exane Derivatives increased its holdings in shares of Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Adobe Systems Incorporated (ADBE) opened at $187.99 on Monday. Adobe Systems Incorporated has a fifty-two week low of $115.03 and a fifty-two week high of $204.45. The company has a market cap of $92,411.84, a PE ratio of 53.10, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. sell-side analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.

A number of analysts recently weighed in on ADBE shares. Barclays increased their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Vetr lowered shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 target price for the company. in a research report on Thursday, October 19th. Cowen reiterated a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research report on Monday, December 11th. Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price (up previously from $153.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Finally, Pivotal Research reiterated a “hold” rating and issued a $162.00 target price (up previously from $160.00) on shares of Adobe Systems in a research report on Friday, December 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $197.79.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the transaction, the executive vice president now directly owns 50,497 shares in the company, valued at $8,761,229.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy Banse bought 1,125 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was purchased at an average price of $177.35 per share, with a total value of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 351,199 shares of company stock valued at $67,326,422. Corporate insiders own 0.38% of the company’s stock.

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

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