Knowledge Leaders Capital LLC increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,173 shares of the software company’s stock after acquiring an additional 308 shares during the quarter. Adobe Systems comprises 4.5% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its biggest position. Knowledge Leaders Capital LLC’s holdings in Adobe Systems were worth $7,096,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. 1ST Source Bank raised its stake in Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America raised its stake in Adobe Systems by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after purchasing an additional 13 shares during the period. Perigon Wealth Management LLC raised its stake in Adobe Systems by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after purchasing an additional 13 shares during the period. Trust Co. of Vermont raised its stake in Adobe Systems by 0.6% during the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after purchasing an additional 16 shares during the period. Finally, Bank of Stockton raised its stake in Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after purchasing an additional 20 shares during the period. 87.40% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating in a research note on Friday. Robert W. Baird reissued an “outperform” rating and issued a $160.00 price target on shares of Adobe Systems in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and issued a $165.00 price target on shares of Adobe Systems in a research note on Thursday. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a research note on Wednesday. Finally, KeyCorp reissued an “overweight” rating and issued a $174.00 price target on shares of Adobe Systems in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $157.28.
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In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the transaction, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Donna Morris sold 10,000 shares of Adobe Systems stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,359 shares of company stock valued at $9,449,192. 0.38% of the stock is currently owned by corporate insiders.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 148.50 on Friday. The company’s 50-day moving average is $151.61 and its 200-day moving average is $140.16. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. The firm has a market cap of $73.27 billion, a PE ratio of 51.72 and a beta of 1.00. Adobe Systems also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 27,240 put options on the company. This represents an increase of approximately 752% compared to the typical volume of 3,199 put options.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. Analysts forecast that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.
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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