National Pension Service raised its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 329,300 shares of the software company’s stock after buying an additional 26,663 shares during the period. National Pension Service owned about 0.07% of Adobe Systems worth $35,742,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ADBE. WFG Advisors LP boosted its stake in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock worth $110,000 after buying an additional 246 shares in the last quarter. Advisory Services Network LLC boosted its stake in Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock worth $118,000 after buying an additional 147 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock worth $128,000 after buying an additional 935 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock worth $137,000 after buying an additional 523 shares in the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in Adobe Systems during the second quarter worth approximately $142,000. Institutional investors own 86.36% of the company’s stock.

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

Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.01% during mid-day trading on Tuesday, hitting $104.51. 79,722 shares of the company traded hands. The firm has a market capitalization of $51.97 billion, a P/E ratio of 53.32 and a beta of 1.14. The firm has a 50 day moving average of $106.78 and a 200 day moving average of $101.47. Adobe Systems Inc. has a one year low of $71.27 and a one year high of $111.09.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business had revenue of $1.46 billion for the quarter. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts expect that Adobe Systems Inc. will post $2.98 earnings per share for the current fiscal year.

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A number of analysts recently commented on ADBE shares. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $102.96 price objective for the company. in a research report on Wednesday, September 21st. Goldman Sachs Group Inc. upped their price objective on shares of Adobe Systems from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, September 21st. Canaccord Genuity upped their price objective on shares of Adobe Systems from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Robert W. Baird upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, August 25th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $112.87.

In other Adobe Systems news, EVP Michael A. Dillon sold 13,331 shares of the business’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $109.64, for a total value of $1,461,610.84. Following the transaction, the executive vice president now directly owns 30,993 shares in the company, valued at $3,398,072.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Garrett sold 26,899 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $103.47, for a total transaction of $2,783,239.53. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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