Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 110.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,400 shares of the software company’s stock after buying an additional 101,400 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Adobe Systems were worth $33,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Avestar Capital LLC purchased a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $109,000. Cerebellum GP LLC purchased a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $118,000. Community Bank N.A. purchased a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $122,000. BB&T Investment Services Inc. boosted its stake in shares of Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the period. Finally, Truewealth LLC purchased a new stake in shares of Adobe Systems during the fourth quarter valued at approximately $162,000. 87.02% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Michael A. Dillon sold 6,376 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $197.13, for a total transaction of $1,256,900.88. Following the completion of the transaction, the executive vice president now directly owns 68,693 shares in the company, valued at $13,541,451.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Warnock sold 4,600 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $174.55, for a total value of $802,930.00. Following the transaction, the director now owns 16,088 shares of the company’s stock, valued at $2,808,160.40. The disclosure for this sale can be found here. Insiders have sold 349,246 shares of company stock valued at $66,987,577 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.
ADBE stock opened at $229.75 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.12 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $109,608.84, a price-to-earnings ratio of 61.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. Adobe Systems Incorporated has a twelve month low of $124.51 and a twelve month high of $231.34.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned ($0.43) earnings per share. The company’s revenue was up 23.6% on a year-over-year basis. equities analysts forecast that Adobe Systems Incorporated will post 5.23 EPS for the current year.
A number of equities analysts recently commented on ADBE shares. Cowen restated a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a report on Monday, December 11th. Pivotal Research restated a “hold” rating and set a $162.00 target price (up previously from $160.00) on shares of Adobe Systems in a report on Friday, December 15th. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price for the company in a report on Tuesday, December 5th. Sanford C. Bernstein upped their target price on Adobe Systems from $208.00 to $223.00 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. Finally, Bank of America restated a “buy” rating and set a $269.00 target price (up previously from $253.00) on shares of Adobe Systems in a report on Tuesday, March 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has an average rating of “Buy” and a consensus target price of $214.06.
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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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