Private Capital Advisors Inc. Lowers Position in Adobe Systems Incorporated (ADBE)

Private Capital Advisors Inc. lowered its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,364 shares of the software company’s stock after selling 4,907 shares during the quarter. Adobe Systems accounts for approximately 1.9% of Private Capital Advisors Inc.’s holdings, making the stock its 21st largest holding. Private Capital Advisors Inc.’s holdings in Adobe Systems were worth $5,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. KCS Wealth Advisory acquired a new stake in Adobe Systems during the 4th quarter valued at $393,000. Broadleaf Partners LLC acquired a new stake in Adobe Systems during the 4th quarter valued at $4,315,000. Appleton Partners Inc. MA grew its holdings in Adobe Systems by 9.6% during the 4th quarter. Appleton Partners Inc. MA now owns 27,762 shares of the software company’s stock valued at $4,865,000 after buying an additional 2,440 shares during the last quarter. Parker Investment Management LLC acquired a new stake in Adobe Systems during the 4th quarter valued at $237,000. Finally, Rockland Trust Co. acquired a new stake in Adobe Systems during the 4th quarter valued at $298,000. Institutional investors and hedge funds own 87.08% of the company’s stock.

Adobe Systems Incorporated (ADBE) traded up $6.13 during mid-day trading on Friday, hitting $195.05. The stock had a trading volume of 4,250,000 shares, compared to its average volume of 3,000,000. Adobe Systems Incorporated has a 1-year low of $107.06 and a 1-year high of $195.50. 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 firm has a market capitalization of $96,150.00, a PE ratio of 57.54, a price-to-earnings-growth ratio of 2.38 and a beta of 1.05.

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

A number of equities research analysts have commented on the company. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 target price on the stock in a report on Wednesday, September 20th. Jefferies Group reiterated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Barclays reiterated a “buy” rating and set a $167.00 target price on shares of Adobe Systems in a report on Friday, September 15th. Wells Fargo & Co reiterated a “hold” rating and set a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Adobe Systems from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $187.06.

In related news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on 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 can be accessed through the SEC website. Also, Director Amy Banse bought 1,125 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average cost 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 approximately $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 ninety days. Corporate insiders own 0.38% of the company’s stock.

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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.

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

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