Adobe Systems Incorporated (ADBE) Shares Bought by GWM Advisors LLC

GWM Advisors LLC grew its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 235.3% during the third quarter, HoldingsChannel.com reports. The firm owned 5,214 shares of the software company’s stock after buying an additional 3,659 shares during the quarter. GWM Advisors LLC’s holdings in Adobe Systems were worth $1,408,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ADBE. Signature Estate & Investment Advisors LLC bought a new position in Adobe Systems during the second quarter valued at about $107,000. Centaurus Financial Inc. bought a new position in Adobe Systems during the second quarter valued at about $170,000. Cerebellum GP LLC boosted its stake in Adobe Systems by 55.8% during the second quarter. Cerebellum GP LLC now owns 712 shares of the software company’s stock valued at $174,000 after buying an additional 255 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in Adobe Systems during the second quarter valued at about $177,000. Finally, Sunesis Advisors LLC bought a new position in Adobe Systems during the third quarter valued at about $204,000. 85.02% of the stock is currently owned by institutional investors.

In related news, EVP Ann Lewnes sold 2,910 shares of the stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total value of $760,121.10. Following the completion of the sale, the executive vice president now directly owns 55,647 shares of the company’s stock, valued at approximately $14,535,552.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 8,790 shares of company stock valued at $2,303,462. Company insiders own 0.33% of the company’s stock.

Shares of Adobe Systems stock opened at $245.76 on Thursday. The stock has a market capitalization of $116.38 billion, a P/E ratio of 68.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. Adobe Systems Incorporated has a 1 year low of $165.68 and a 1 year high of $277.61.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. On average, research analysts forecast that Adobe Systems Incorporated will post 5.66 earnings per share for the current year.

Several research analysts recently weighed in on ADBE shares. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Guggenheim assumed coverage on Adobe Systems in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $275.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $300.00 price target on shares of Adobe Systems in a research report on Wednesday, September 12th. Barclays increased their price target on Adobe Systems to $297.00 and gave the company an “overweight” rating in a research report on Wednesday, September 12th. Finally, KeyCorp reiterated a “buy” rating and issued a $286.00 price target (up previously from $276.00) on shares of Adobe Systems in a research report on Friday, September 14th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Adobe Systems has a consensus rating of “Buy” and a consensus target price of $269.17.

Adobe Systems Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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