Adobe Systems Incorporated (NASDAQ:ADBE) – Equities researchers at KeyCorp lifted their Q4 2018 EPS estimates for Adobe Systems in a research report issued to clients and investors on Tuesday. KeyCorp analyst B. Bracelin now expects that the software company will earn $1.31 per share for the quarter, up from their previous estimate of $1.30. KeyCorp has a “Overweight” rating and a $216.00 price target on the stock.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.07% and a net margin of 22.79%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This report was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.com-unik.info/2017/11/24/q4-2018-earnings-forecast-for-adobe-systems-incorporated-issued-by-keycorp-adbe.html.
Shares of Adobe Systems (NASDAQ:ADBE) traded up $1.56 during mid-day trading on Thursday, hitting $184.46. The company’s stock had a trading volume of 662,988 shares, compared to its average volume of 2,396,276. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $90,159.27, a PE ratio of 55.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.05. Adobe Systems has a twelve month low of $98.00 and a twelve month high of $185.55.
In other news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction dated 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 this link. Also, Director John E. Warnock sold 6,800 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock worth $2,519,679 over the last three months. Corporate insiders own 0.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Aviva PLC grew its holdings in Adobe Systems by 0.4% during the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after acquiring an additional 1,250 shares during the period. Bender Robert & Associates acquired a new stake in Adobe Systems during the third quarter worth about $3,476,000. Arcadia Investment Management Corp MI grew its holdings in Adobe Systems by 6.9% during the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after acquiring an additional 2,242 shares during the period. BARING ASSET MANAGEMENT Ltd grew its holdings in Adobe Systems by 12.0% during the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock worth $3,776,000 after acquiring an additional 2,864 shares during the period. Finally, Clinton Group Inc. acquired a new stake in Adobe Systems during the second quarter worth about $411,000. 87.21% of the stock is currently owned by institutional investors and hedge funds.
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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