Chicago Equity Partners LLC Buys 63,755 Shares of Adobe Systems Incorporated (ADBE)
Chicago Equity Partners LLC increased its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1,216.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 68,995 shares of the software company’s stock after acquiring an additional 63,755 shares during the period. Chicago Equity Partners LLC’s holdings in Adobe Systems were worth $9,759,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC raised its position in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares in the last quarter. Clean Yield Group acquired a new position in shares of Adobe Systems in the 1st quarter valued at approximately $100,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Adobe Systems in the 1st quarter valued at approximately $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Adobe Systems by 86.2% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John E. Warnock sold 32,600 shares of Adobe Systems stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,317,798.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,959 shares of company stock worth $14,870,874. 0.38% of the stock is owned by company insiders.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 154.49 on Friday. The firm has a 50-day moving average price of $151.06 and a 200 day moving average price of $139.34. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $157.89. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 53.81 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current year.
A number of equities analysts have issued reports on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $184.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Pivotal Research lowered Adobe Systems from a “hold” rating to a “sell” rating and upped their target price for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Zacks Investment Research lowered Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $150.30 target price on the stock in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $153.88.
Adobe Systems 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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