Community Bank N.A. Invests $122,000 in Adobe Systems Incorporated (ADBE)

Community Bank N.A. bought a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 695 shares of the software company’s stock, valued at approximately $122,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bender Robert & Associates acquired a new stake in shares of Adobe Systems during the third quarter worth $3,476,000. Grove Bank & Trust grew its stake in shares of Adobe Systems by 14.9% during the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after purchasing an additional 591 shares during the period. Bluestein R H & Co. acquired a new stake in shares of Adobe Systems during the third quarter worth $2,812,000. Great West Life Assurance Co. Can grew its stake in shares of Adobe Systems by 13.0% during the third quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock worth $76,120,000 after purchasing an additional 59,670 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Adobe Systems by 12.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock worth $114,996,000 after purchasing an additional 83,265 shares during the period. Institutional investors own 87.19% of the company’s stock.

In other news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total transaction of $338,845.50. Following the completion of the transaction, the executive vice president now directly owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse acquired 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the transaction, the director now directly owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. Insiders have sold 351,199 shares of company stock valued at $67,326,422 over the last ninety days. 0.38% of the stock is owned by insiders.

A number of equities research analysts recently commented on ADBE shares. Argus lifted their price objective on Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Pivotal Research raised Adobe Systems from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $118.00 to $160.00 in a research note on Wednesday, October 18th. Vetr raised Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price objective for the company in a research note on Monday, October 23rd. Finally, Stephens reaffirmed a “buy” rating and set a $210.00 price objective on shares of Adobe Systems in a research note on Wednesday, January 3rd. Nine investment 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 stock. The stock has an average rating of “Buy” and an average price target of $197.79.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $187.99 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $91,020.67, a PE ratio of 52.31, a PEG ratio of 2.26 and a beta of 1.18. Adobe Systems Incorporated has a 52-week low of $115.03 and a 52-week high of $204.45.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. Adobe Systems’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. research analysts anticipate that Adobe Systems Incorporated will post 5.12 EPS for the current fiscal year.

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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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