Adobe Systems Incorporated (ADBE) : State Treasurer State Of Michigan scooped up 469,200 additional shares in Adobe Systems Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 640,765 shares of Adobe Systems Incorporated which is valued at $61,942,753.Adobe Systems Incorporated makes up approximately 0.47% of State Treasurer State Of Michigan’s portfolio.
Other Hedge Funds, Including , Ballentine Partners boosted its stake in ADBE in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 3,291 shares of Adobe Systems Incorporated which is valued at $318,141. Adobe Systems Incorporated makes up approx 0.03% of Ballentine Partners’s portfolio.Seaward Management Limited Partnership reduced its stake in ADBE by selling 1,500 shares or 10.9% in the most recent quarter. The Hedge Fund company now holds 12,256 shares of ADBE which is valued at $1,200,230. Adobe Systems Incorporated makes up approx 0.06% of Seaward Management Limited Partnership’s portfolio.
Adobe Systems Incorporated closed down -0.55 points or -0.56% at $98.49 with 11,07,226 shares getting traded on Monday. Post opening the session at $98.86, the shares hit an intraday low of $98.3 and an intraday high of $98.95 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 $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $1399.00 million for the quarter, compared to analysts expectations of $1404.12 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Many Wall Street Analysts have commented on Adobe Systems Incorporated. Piper Jaffray Initiated Adobe Systems Incorporated on Jul 26, 2016 to “Overweight”, Price Target of the shares are set at $125.Company shares were Reiterated by Rosenblatt on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $112 .Company shares were Reiterated by UBS on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .
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.