Municipal Employees Retirement System of Michigan decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,820 shares of the software company’s stock after selling 3,290 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Adobe Systems were worth $3,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aviva PLC raised its stake in Adobe Systems by 0.4% during the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after acquiring an additional 1,250 shares in the last quarter. Bender Robert & Associates acquired a new position in Adobe Systems during the third quarter worth about $3,476,000. Morgan Stanley raised its stake in Adobe Systems by 52.2% during the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock worth $211,367,000 after acquiring an additional 557,169 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in Adobe Systems by 6.9% during the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after acquiring an additional 2,242 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd raised its stake in Adobe Systems by 12.0% during the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock worth $3,776,000 after acquiring an additional 2,864 shares in the last quarter. 87.45% of the stock is owned by institutional investors and hedge funds.

Adobe Systems Incorporated (ADBE) traded up $0.24 during midday trading on Monday, reaching $181.96. The company had a trading volume of 941,174 shares, compared to its average volume of 2,431,747. The stock has a market cap of $89,650.00, a price-to-earnings ratio of 54.74, a P/E/G ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a twelve month low of $98.00 and a twelve month high of $184.44. 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 (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted $0.75 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. research analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

Several research analysts have commented on ADBE shares. Argus boosted their target price on Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Pivotal Research raised Adobe Systems from a “sell” rating to a “hold” rating and upped their price objective for the company from $118.00 to $160.00 in a research note on Wednesday, October 18th. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a research note on Thursday, August 31st. Moffett Nathanson began coverage on Adobe Systems in a research note on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a research note on Tuesday, September 12th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems has an average rating of “Buy” and an average price target of $174.11.

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In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Warnock sold 6,800 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Insiders own 0.38% 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.

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

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