163,339 Shares in Adobe Systems (ADBE) Purchased by Mackay Shields LLC

Mackay Shields LLC bought a new stake in shares of Adobe Systems (NASDAQ:ADBE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 163,339 shares of the software company’s stock, valued at approximately $35,294,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Zeke Capital Advisors LLC grew its stake in shares of Adobe Systems by 26.4% in the 1st quarter. Zeke Capital Advisors LLC now owns 10,692 shares of the software company’s stock worth $2,310,000 after buying an additional 2,230 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Adobe Systems by 3.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 172,075 shares of the software company’s stock worth $37,160,000 after buying an additional 4,992 shares in the last quarter. Wellington Shields Capital Management LLC grew its stake in shares of Adobe Systems by 353.7% in the 1st quarter. Wellington Shields Capital Management LLC now owns 8,030 shares of the software company’s stock worth $1,735,000 after buying an additional 6,260 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd grew its stake in shares of Adobe Systems by 47.9% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,100 shares of the software company’s stock worth $1,534,000 after buying an additional 2,300 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its stake in shares of Adobe Systems by 85.2% in the 1st quarter. Reilly Financial Advisors LLC now owns 576 shares of the software company’s stock worth $124,000 after buying an additional 265 shares in the last quarter. 86.80% of the stock is owned by institutional investors.

ADBE traded down $2.35 on Tuesday, reaching $236.02. 76,453 shares of the company traded hands, compared to its average volume of 2,858,321. Adobe Systems has a one year low of $233.02 and a one year high of $236.89. The firm has a market capitalization of $119.12 billion, a price-to-earnings ratio of 65.69, a PEG ratio of 2.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business posted ($0.43) EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. equities analysts anticipate that Adobe Systems will post 5.35 earnings per share for the current fiscal year.

In other news, Director John E. Warnock sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $224.94, for a total value of $1,124,700.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $3,618,834.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Lewnes sold 2,940 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $223.86, for a total transaction of $658,148.40. Following the completion of the sale, the executive vice president now owns 76,201 shares of the company’s stock, valued at approximately $17,058,355.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,877 shares of company stock valued at $9,755,681. Company insiders own 0.33% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $267.00 price objective for the company in a research note on Tuesday. Credit Suisse Group restated an “outperform” rating and issued a $250.00 target price on shares of Adobe Systems in a report on Thursday, May 10th. Canaccord Genuity restated a “buy” rating and issued a $245.00 target price (up previously from $220.00) on shares of Adobe Systems in a report on Friday, March 16th. Morgan Stanley restated an “equal weight” rating and issued a $235.00 target price (up previously from $193.00) on shares of Adobe Systems in a report on Friday, March 16th. Finally, Pivotal Research restated a “hold” rating and issued a $199.00 target price (up previously from $195.00) on shares of Adobe Systems in a report on Friday, March 16th. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $219.50.

Adobe Systems Profile

Adobe Systems Incorporated 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. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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