Private Capital Advisors Inc. increased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,271 shares of the software company’s stock after purchasing an additional 5,357 shares during the quarter. Adobe Systems makes up about 1.8% of Private Capital Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. Private Capital Advisors Inc.’s holdings in Adobe Systems were worth $5,411,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new position in Adobe Systems during the second quarter valued at $107,000. Rainier Group Investment Advisory LLC purchased a new position in Adobe Systems during the first quarter valued at $130,000. Mount Yale Investment Advisors LLC purchased a new position in Adobe Systems during the first quarter valued at $132,000. Centaurus Financial Inc. purchased a new position in Adobe Systems during the second quarter valued at $170,000. Finally, Cerebellum GP LLC raised its stake in Adobe Systems by 55.8% during the second quarter. Cerebellum GP LLC now owns 712 shares of the software company’s stock valued at $174,000 after buying an additional 255 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.
Shares of ADBE opened at $248.87 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. Adobe Systems Incorporated has a one year low of $148.15 and a one year high of $277.61. The firm has a market capitalization of $131.77 billion, a P/E ratio of 69.32, a PEG ratio of 2.91 and a beta of 1.08.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. Adobe Systems’s revenue was up 24.4% compared to the same quarter last year. Equities research analysts predict that Adobe Systems Incorporated will post 5.65 EPS for the current fiscal year.
In related news, EVP Abhay Parasnis sold 10,500 shares of Adobe Systems stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $260.01, for a total value of $2,730,105.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 2,939 shares of Adobe Systems stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $253.80, for a total value of $745,918.20. Following the completion of the sale, the executive vice president now directly owns 61,498 shares of the company’s stock, valued at approximately $15,608,192.40. The disclosure for this sale can be found here. Insiders sold 19,320 shares of company stock valued at $5,031,554 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Adobe Systems from $260.00 to $309.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Jefferies Financial Group lifted their price objective on Adobe Systems to $315.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Credit Suisse Group lifted their price objective on Adobe Systems from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Griffin Securities lifted their target price on Adobe Systems from $278.00 to $296.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Robert W. Baird lifted their target price on Adobe Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Ten analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Adobe Systems has a consensus rating of “Buy” and an average target price of $262.03.
Adobe Systems Profile
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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