North Star Asset Management Inc. maintained its position in Adobe Systems Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,690 shares of the software company’s stock at the end of the second quarter. Adobe Systems makes up 1.5% of North Star Asset Management Inc.’s holdings, making the stock its 13th largest position. North Star Asset Management Inc.’s holdings in Adobe Systems were worth $12,821,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Cypress Capital Management LLC WY bought a new position in Adobe Systems during the second quarter valued at approximately $142,000. Spectrum Management Group Inc. bought a new position in Adobe Systems during the second quarter valued at approximately $998,000. Mar Vista Investment Partners LLC increased its position in Adobe Systems by 6.1% in the second quarter. Mar Vista Investment Partners LLC now owns 538,166 shares of the software company’s stock valued at $51,551,000 after buying an additional 30,975 shares during the period. LMR Partners LLP bought a new position in Adobe Systems during the second quarter valued at approximately $3,236,000. Finally, Savant Capital LLC increased its position in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock valued at $330,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

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

Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.07% during trading on Friday, hitting $108.64. The stock had a trading volume of 1,405,488 shares. The firm has a market capitalization of $54.02 billion, a PE ratio of 55.43 and a beta of 1.27. The firm has a 50 day moving average price of $103.57 and a 200-day moving average price of $98.19. Adobe Systems Inc. has a 1-year low of $71.27 and a 1-year high of $109.76.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business earned $1.46 billion during the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. Adobe Systems’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, equities research analysts expect that Adobe Systems Inc. will post $2.97 EPS for the current year.

Several brokerages have issued reports on ADBE. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $105.68 price objective for the company in a research report on Tuesday. Cowen and Company reiterated an “outperform” rating and issued a $120.00 price objective on shares of Adobe Systems in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Friday, September 23rd. Dougherty & Co reiterated a “buy” rating and issued a $122.00 price objective on shares of Adobe Systems in a research report on Friday, September 23rd. Finally, Argus lifted their price objective on Adobe Systems from $110.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $110.82.

In other Adobe Systems news, Director Daniel Rosensweig sold 13,000 shares of Adobe Systems stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $107.42, for a total transaction of $1,396,460.00. Following the completion of the transaction, the director now owns 13,000 shares in the company, valued at approximately $1,396,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $106.99, for a total value of $534,950.00. Following the transaction, the chairman now owns 16,088 shares of the company’s stock, valued at approximately $1,721,255.12. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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