Genesee Valley Trust Co Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Genesee Valley Trust Co reduced its stake in Adobe Systems Incorporated by 1.18% during the most recent quarter end. The investment management company now holds a total of 14,700 shares of Adobe Systems Incorporated which is valued at $1,578,339 after selling 175 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Adobe Systems Incorporated makes up approximately 1.02% of Genesee Valley Trust Co’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in ADBE in the latest quarter, The investment management firm added 1,037 additional shares and now holds a total of 21,439 shares of Adobe Systems Incorporated which is valued at $2,301,905. Adobe Systems Incorporated makes up approx 0.01% of Creative Planning’s portfolio.Bristol John W Co Inc Ny reduced its stake in ADBE by selling 192,038 shares or 26.3% in the most recent quarter. The Hedge Fund company now holds 538,250 shares of ADBE which is valued at $58,798,430. Adobe Systems Incorporated makes up approx 1.61% of Bristol John W Co Inc Ny’s portfolio. Centre Asset Management added ADBE to its portfolio by purchasing 91,290 company shares during the most recent quarter which is valued at $9,972,520. Adobe Systems Incorporated makes up approx 1.82% of Centre Asset Management’s portfolio.Washington Trust Bank boosted its stake in ADBE in the latest quarter, The investment management firm added 459 additional shares and now holds a total of 502 shares of Adobe Systems Incorporated which is valued at $54,618. Adobe Systems Incorporated makes up approx 0.01% of Washington Trust Bank’s portfolio.

Adobe Systems Incorporated closed down -1.87 points or -1.71% at $107.37 with 19,70,947 shares getting traded on Tuesday. Post opening the session at $109, the shares hit an intraday low of $107.04 and an intraday high of $109.2 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 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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