BB&T Securities LLC boosted its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,252 shares of the software company’s stock after buying an additional 1,427 shares during the period. BB&T Securities LLC’s holdings in Adobe Systems were worth $2,722,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Aviva PLC raised its holdings in shares of Adobe Systems by 0.4% in the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after purchasing an additional 1,250 shares during the last quarter. Bender Robert & Associates acquired a new stake in shares of Adobe Systems in the third quarter valued at approximately $3,476,000. Arcadia Investment Management Corp MI raised its holdings in shares of Adobe Systems by 6.9% in the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after purchasing an additional 2,242 shares during the last quarter. BARING ASSET MANAGEMENT Ltd raised its holdings in shares of Adobe Systems by 12.0% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after purchasing an additional 2,864 shares during the last quarter. Finally, Clinton Group Inc. acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $411,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.

A number of research firms have recently issued reports on ADBE. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective on the stock in a report on Tuesday. Royal Bank Of Canada restated a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 target price (up from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Oppenheimer restated a “hold” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Cowen restated an “outperform” rating and set a $165.00 target price on shares of Adobe Systems in a report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and a consensus target price of $176.50.

In other news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. 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. Company insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (ADBE) opened at $168.44 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 52-week low of $100.16 and a 52-week high of $186.27. The company has a market cap of $88,493.13, a price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Adobe Systems Incorporated (ADBE) Shares Bought by BB&T Securities LLC” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/12/05/adobe-systems-incorporated-adbe-shares-bought-by-bbt-securities-llc.html.

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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).

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

Receive News & Stock Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related stocks with our FREE daily email newsletter.