Cognios Capital LLC Acquires 4,655 Shares of Adobe Systems Incorporated (ADBE)

Cognios Capital LLC grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 284.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,290 shares of the software company’s stock after acquiring an additional 4,655 shares during the period. Cognios Capital LLC’s holdings in Adobe Systems were worth $1,102,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bender Robert & Associates bought a new stake in shares of Adobe Systems in the 3rd quarter worth about $3,476,000. Grove Bank & Trust lifted its holdings in shares of Adobe Systems by 14.9% in the 3rd quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after acquiring an additional 591 shares during the last quarter. Bluestein R H & Co. bought a new stake in shares of Adobe Systems in the 3rd quarter worth about $2,812,000. Great West Life Assurance Co. Can lifted its holdings in shares of Adobe Systems by 13.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock worth $76,120,000 after acquiring an additional 59,670 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Adobe Systems by 12.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock worth $114,996,000 after acquiring an additional 83,265 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Shares of Adobe Systems Incorporated (ADBE) opened at $187.99 on Friday. Adobe Systems Incorporated has a twelve month low of $115.03 and a twelve month high of $204.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $91,020.67, a PE ratio of 52.31, a PEG ratio of 2.26 and a beta of 1.18.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. sell-side analysts expect that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

In other news, Chairman Shantanu Narayen sold 165,023 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $197.89, for a total value of $32,656,401.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total transaction of $338,845.50. Following the completion of the sale, the executive vice president now owns 50,497 shares of the company’s stock, valued at approximately $8,761,229.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,199 shares of company stock valued at $67,326,422. Company insiders own 0.38% of the company’s stock.

Several research firms have recently issued reports on ADBE. Evercore ISI restated a “buy” rating and issued a $220.00 target price on shares of Adobe Systems in a report on Friday, January 26th. Royal Bank of Canada raised their target price on shares of Adobe Systems to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Stephens restated a “buy” rating and issued a $215.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Guggenheim restated a “buy” rating and issued a $230.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Barclays raised their target price on shares of Adobe Systems from $193.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $197.79.

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

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