Capital Investment Services Of America Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Capital Investment Services Of America reduced its stake in Adobe Systems Incorporated by 2.24% during the most recent quarter end. The investment management company now holds a total of 156,602 shares of Adobe Systems Incorporated which is valued at $17,013,241 after selling 3,590 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Adobe Systems Incorporated makes up approximately 3.26% of Capital Investment Services Of America’s portfolio.

Other Hedge Funds, Including , Simplex Trading added ADBE to its portfolio by purchasing 261 company shares during the most recent quarter which is valued at $28,355.Bnp Paribas Arbitrage Sa boosted its stake in ADBE in the latest quarter, The investment management firm added 139,211 additional shares and now holds a total of 317,737 shares of Adobe Systems Incorporated which is valued at $34,569,786. Adobe Systems Incorporated makes up approx 0.14% of Bnp Paribas Arbitrage Sa’s portfolio.Chevy Chase Trust Holdings reduced its stake in ADBE by selling 10,578 shares or 2.45% in the most recent quarter. The Hedge Fund company now holds 420,966 shares of ADBE which is valued at $45,801,101. Adobe Systems Incorporated makes up approx 0.25% of Chevy Chase Trust Holdings’s portfolio.Cullinan Associates Inc reduced its stake in ADBE by selling 940 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 51,520 shares of ADBE which is valued at $5,605,376. Adobe Systems Incorporated makes up approx 0.48% of Cullinan Associates Inc’s portfolio.

Adobe Systems Incorporated opened for trading at $109.07 and hit $109.07 on the upside on Friday, eventually ending the session at $108.64, with a gain of 0.07% or 0.08 points. The heightened volatility saw the trading volume jump to 14,12,707 shares. Company has a market cap of $54,019 M.

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 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 .Piper Jaffray Initiated Adobe Systems Incorporated on Jul 26, 2016 to “Overweight”, Price Target of the shares are set at $125.

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.

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