Janus Henderson Group PLC Reduces Stake in Adobe Systems Incorporated (ADBE)

Janus Henderson Group PLC lowered its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,098,716 shares of the software company’s stock after selling 127,991 shares during the quarter. Adobe Systems comprises 1.1% of Janus Henderson Group PLC’s holdings, making the stock its 7th biggest position. Janus Henderson Group PLC owned 2.25% of Adobe Systems worth $1,655,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems in the second quarter valued at about $100,000. Parkside Financial Bank & Trust raised its stake in Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. raised its stake in Adobe Systems by 42.4% during the third 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 in the last quarter. Exane Derivatives raised its stake in Adobe Systems by 55.0% during the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in Adobe Systems during the second quarter worth about $141,000. 87.45% of the stock is owned by institutional investors.

In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 in the company, valued at $8,784,773.28. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock worth $2,519,679 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Shares of Adobe Systems Incorporated (ADBE) opened at $174.61 on Friday. Adobe Systems Incorporated has a twelve month low of $101.91 and a twelve month high of $186.27. The company has a market capitalization of $86,270.00, a P/E ratio of 50.46, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 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 business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. equities analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

Several research analysts have commented on the company. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Vetr raised Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price for the company in a research note on Tuesday. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday. KeyCorp reissued an “overweight” rating and set a $216.00 target price (up previously from $178.00) on shares of Adobe Systems in a research note on Wednesday, November 22nd. Finally, Stifel Nicolaus boosted their target price on Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $176.50.

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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.

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

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