Sandhill Capital Partners LLC boosted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,645 shares of the software company’s stock after purchasing an additional 2,792 shares during the period. Adobe Systems accounts for approximately 4.7% of Sandhill Capital Partners LLC’s portfolio, making the stock its 3rd biggest position. Sandhill Capital Partners LLC’s holdings in Adobe Systems were worth $22,014,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Capital Advisors Ltd. LLC acquired a new stake in Adobe Systems during the second quarter valued at $100,000. CWM LLC boosted its position in Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Adobe Systems by 86.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Adobe Systems during the second quarter valued at $141,000. Finally, Acrospire Investment Management LLC boosted its position in Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective for the company in a research report on Wednesday, September 20th. Stifel Nicolaus lifted their price objective on Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Barclays PLC lifted their price objective on Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Finally, Piper Jaffray Companies lifted their price objective on Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $158.16.
Adobe Systems Incorporated (ADBE) opened at 151.12 on Friday. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. The company has a market capitalization of $74.67 billion, a price-to-earnings ratio of 65.14 and a beta of 0.98. The company’s 50-day moving average price is $151.62 and its 200 day moving average price is $142.33.
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 the Thomson Reuters’ consensus estimate 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 net margin of 23.06% and a return on equity of 21.40%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current year.
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In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total transaction of $3,629,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total transaction of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The disclosure for this sale can be found here. Insiders have sold 53,359 shares of company stock valued at $7,868,382 over the last 90 days. Company insiders own 0.38% of the company’s stock.
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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