Polen Capital Management LLC Purchases 226,286 Shares of Adobe Systems Incorporated (ADBE)

Polen Capital Management LLC raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,288,816 shares of the software company’s stock after buying an additional 226,286 shares during the quarter. Adobe Systems accounts for about 7.6% of Polen Capital Management LLC’s holdings, making the stock its 2nd biggest position. Polen Capital Management LLC owned approximately 1.28% of Adobe Systems worth $938,166,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. grew its position in Adobe Systems by 0.6% in the first quarter. HM Payson & Co. now owns 3,889 shares of the software company’s stock worth $506,000 after acquiring an additional 24 shares in the last quarter. Ballentine Partners LLC bought a new stake in Adobe Systems in the first quarter worth approximately $450,000. Skandinaviska Enskilda Banken AB publ grew its position in Adobe Systems by 0.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 87,002 shares of the software company’s stock worth $11,322,000 after acquiring an additional 318 shares in the last quarter. Piedmont Investment Advisors LLC grew its position in Adobe Systems by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 103,549 shares of the software company’s stock worth $13,475,000 after acquiring an additional 890 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its position in Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.

In other news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,849 shares of company stock valued at $2,519,679. Insiders own 0.38% of the company’s stock.

ADBE has been the subject of several recent research reports. Barclays reissued a “buy” rating and issued a $167.00 target price on shares of Adobe Systems in a research report on Friday, September 15th. Jefferies Group initiated coverage on shares of Adobe Systems in a research report on Thursday, August 24th. They issued a “buy” rating and a $175.00 target price for the company. Robert W. Baird reissued a “buy” rating and issued a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Piper Jaffray Companies reissued a “buy” rating and issued a $180.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Finally, Moffett Nathanson initiated coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 target price for the company. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $175.67.

Shares of Adobe Systems Incorporated (ADBE) opened at $179.52 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $186.27. The firm has a market cap of $88,493.13, a price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 25.8% on a year-over-year basis. equities research analysts predict that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.

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About Adobe Systems

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.

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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