Adobe Systems Incorporated (ADBE) : Congress Asset Management Co reduced its stake in Adobe Systems Incorporated by 5.27% during the most recent quarter end. The investment management company now holds a total of 645,434 shares of Adobe Systems Incorporated which is valued at $66,105,350 after selling 35,926 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Adobe Systems Incorporated makes up approximately 1.46% of Congress Asset Management Co’s portfolio.
Other Hedge Funds, Including , Halbert Hargroverussell reduced its stake in ADBE by selling 229 shares or 10.44% in the most recent quarter. The Hedge Fund company now holds 1,964 shares of ADBE which is valued at $211,837. Adobe Systems Incorporated makes up approx 0.06% of Halbert Hargroverussell’s portfolio.Aperio Group boosted its stake in ADBE in the latest quarter, The investment management firm added 12,297 additional shares and now holds a total of 231,421 shares of Adobe Systems Incorporated which is valued at $24,505,170. Adobe Systems Incorporated makes up approx 0.18% of Aperio Group’s portfolio. Acadian Asset Management added ADBE to its portfolio by purchasing 1,757 company shares during the most recent quarter which is valued at $190,441.
Adobe Systems Incorporated closed down -0.79 points or -0.75% at $105.02 with 23,58,168 shares getting traded on Monday. Post opening the session at $106.19, the shares hit an intraday low of $104.72 and an intraday high of $106.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Adobe Systems Incorporated reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $0.72. The company had revenue of $1464.00 million for the quarter, compared to analysts expectations of $1449.20 million. The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Adobe Systems Incorporated. Company shares were Reiterated by Wunderlich on Nov 3, 2016 to “Hold”, Firm has raised the Price Target to $ 115 from a previous price target of $99 .Company shares were Reiterated by Pivotal Research Group on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $124 .Company shares were Reiterated by RBC Capital Mkts on Sep 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 116 from a previous price target of $115 .
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals marketers application developers enterprises and consumers for creating managing delivering optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Company’s operates in three segments: Digital Marketing Digital Media and Print and Publishing. In Digital Media the Company is engaged in providing tools services and solutions that enable to create publish and promote their content. In Digital Marketing the Company is engaged in providing solutions and services for creating managing executing measuring and optimizing digital advertising and marketing campaigns. Adobe’s Print and Publishing segment addresses various market opportunities including eLearning solutions technical document publishing Web application development and high-end printing.