Broadleaf Partners LLC Buys Shares of 24,623 Adobe Systems Incorporated (ADBE)

Broadleaf Partners LLC bought a new position in Adobe Systems Incorporated (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel reports. The fund bought 24,623 shares of the software company’s stock, valued at approximately $4,315,000. Adobe Systems makes up approximately 3.6% of Broadleaf Partners LLC’s holdings, making the stock its 9th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares during the last quarter. BlackRock Inc. grew its position in Adobe Systems by 8.2% during the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares during the last quarter. FMR LLC grew its position in Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC grew its position in Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after acquiring an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Adobe Systems by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after acquiring an additional 1,190,108 shares during the last quarter. 87.08% of the stock is owned by institutional investors and hedge funds.

In other news, Director Robert K. Burgess sold 25,000 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $175.39, for a total value of $4,384,750.00. Following the transaction, the director now directly owns 12,375 shares in the company, valued at approximately $2,170,451.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Banse purchased 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the completion of the transaction, the director now directly owns 31,453 shares in the company, valued at $5,578,189.55. The disclosure for this purchase can be found here. Insiders sold a total of 88,772 shares of company stock worth $15,798,527 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Shares of Adobe Systems Incorporated (ADBE) traded up $1.81 on Friday, reaching $188.92. The company’s stock had a trading volume of 1,600,000 shares, compared to its average volume of 2,092,288. The company has a market cap of $95,800.00, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 2.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 52-week low of $107.06 and a 52-week high of $188.94.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was up 24.8% on a year-over-year basis. equities analysts forecast that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.

ADBE has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $163.00 price target on shares of Adobe Systems in a research report on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and set a $180.00 price target on shares of Adobe Systems in a research report on Wednesday, September 20th. Jefferies Group restated a “buy” rating and set a $180.00 price target (up from $175.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Finally, Canaccord Genuity restated a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Eight investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and an average price target of $187.06.

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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.

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

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