Newbrook Capital Advisors LP grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 37.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,000 shares of the software company’s stock after acquiring an additional 99,617 shares during the quarter. Adobe Systems accounts for 4.4% of Newbrook Capital Advisors LP’s portfolio, making the stock its 12th largest holding. Newbrook Capital Advisors LP owned approximately 0.08% of Adobe Systems worth $64,664,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Grove Bank & Trust raised its stake in shares of 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 purchasing an additional 591 shares in the last quarter. Bluestein R H & Co. acquired a new position in shares of Adobe Systems in the third quarter valued at $2,812,000. Great West Life Assurance Co. Can raised its stake in shares of 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 purchasing an additional 59,670 shares in the last quarter. Bank of Hawaii raised its stake in shares of Adobe Systems by 93.3% in the fourth quarter. Bank of Hawaii now owns 10,030 shares of the software company’s stock valued at $1,758,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Waldron LP raised its stake in shares of Adobe Systems by 19.9% in the third quarter. Waldron LP now owns 3,724 shares of the software company’s stock valued at $555,000 after purchasing an additional 618 shares in the last quarter. 87.06% of the stock is owned by institutional investors.
A number of research analysts recently commented on ADBE shares. Zacks Investment Research lowered Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 21st. KeyCorp restated an “overweight” rating and issued a $216.00 target price (up from $178.00) on shares of Adobe Systems in a research note on Wednesday, November 22nd. 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 research note on Wednesday, November 29th. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, JPMorgan Chase & Co. lowered Adobe Systems from an “overweight” rating to a “neutral” rating and set a $185.00 target price for the company. in a research note on Tuesday, December 12th. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $201.26.
Shares of Adobe Systems Incorporated (ADBE) opened at $220.60 on Wednesday. Adobe Systems Incorporated has a 12 month low of $120.90 and a 12 month high of $224.90. The firm has a market capitalization of $108,410.00, a price-to-earnings ratio of 65.02, a PEG ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates 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. sell-side analysts predict 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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