Cape Cod Five Cents Savings Bank lowered its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,893 shares of the software company’s stock after selling 4,257 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Adobe Systems were worth $5,765,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bender Robert & Associates acquired a new position in Adobe Systems in the third quarter valued at $3,476,000. Grove Bank & Trust boosted its stake in Adobe Systems by 14.9% in the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock valued at $678,000 after acquiring an additional 591 shares in the last quarter. Bluestein R H & Co. acquired a new position in Adobe Systems in the third quarter valued at $2,812,000. Great West Life Assurance Co. Can boosted its stake in Adobe Systems by 13.0% in the third quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock valued at $76,120,000 after acquiring an additional 59,670 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in Adobe Systems by 12.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock valued at $114,996,000 after acquiring an additional 83,265 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Several equities analysts have issued reports on ADBE shares. Barclays upped their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective for the company. in a research note on Thursday, October 19th. Cowen restated a “buy” rating and issued a $200.00 price objective on shares of Adobe Systems in a research note on Monday, December 11th. Oppenheimer restated an “outperform” rating and issued a $190.00 price objective (up previously from $153.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Pivotal Research restated a “hold” rating and issued a $162.00 price objective (up previously from $160.00) on shares of Adobe Systems in a research note on Friday, December 15th. Nine 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 company. The company has an average rating of “Buy” and an average target price of $197.79.

In other news, CFO Mark Garrett sold 54,488 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total value of $10,209,961.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total transaction of $338,845.50. Following the completion of the sale, the executive vice president now owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,199 shares of company stock valued at $67,326,422. 0.38% of the stock is currently owned by corporate insiders.

Adobe Systems Incorporated (NASDAQ ADBE) opened at $192.15 on Tuesday. Adobe Systems Incorporated has a 1-year low of $116.20 and a 1-year high of $204.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The stock 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.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm’s quarterly revenue was up 24.8% compared to the same quarter last year. equities research analysts anticipate that Adobe Systems Incorporated will post 5.12 EPS for the current year.

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Adobe Systems 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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