Envestnet Asset Management Inc. Increases Position in Adobe Systems Incorporated (ADBE)

Envestnet Asset Management Inc. lifted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,530 shares of the software company’s stock after buying an additional 4,440 shares during the period. Envestnet Asset Management Inc.’s holdings in Adobe Systems were worth $33,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. Capital Advisors Ltd. LLC purchased a new position in Adobe Systems in the 2nd quarter worth approximately $100,000. Parkside Financial Bank & Trust increased its stake in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the period. BB&T Investment Services Inc. increased its stake in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in Adobe Systems in the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC increased its stake in Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares during the period. 87.45% of the stock is currently owned by institutional investors.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $168.44 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems Incorporated has a 1 year low of $100.16 and a 1 year high of $186.27. The firm has a market capitalization of $88,493.13, a P/E ratio of 54.07, a P/E/G ratio of 2.27 and a beta of 1.05.

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

In related news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock worth $2,519,679 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ADBE has been the topic of a number of analyst reports. Zacks Investment Research cut Adobe Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target on the stock. in a research note on Thursday, August 31st. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the stock a “buy” rating in a research note on Friday, October 6th. Bank of America lifted their price target on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 25th. Finally, UBS initiated coverage on Adobe Systems in a research note on Thursday, November 9th. They issued a “buy” rating and a $217.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $176.50.

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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.

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

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