Today: Today, UBS Asset Management Americas Inc. Reduced the position of Adobe Systems Inc. (ADBE)

Today, UBS Asset Management Americas Inc. Reduced the position of Adobe Systems Inc. (ADBE)

UBS Asset Management Americas Inc. lowered its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,344,092 shares of the software company’s stock after selling 39,490 shares during the period. UBS Asset Management Americas Inc. owned 0.27% of Adobe Systems worth $145,888,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. increased its position in Adobe Systems by 37.3% in the third quarter. Daiwa Securities Group Inc. now owns 16,550 shares of the software company’s stock valued at $1,796,000 after buying an additional 4,500 shares during the last quarter. Teacher Retirement System of Texas increased its position in Adobe Systems by 30.8% in the third quarter. Teacher Retirement System of Texas now owns 715,573 shares of the software company’s stock valued at $77,668,000 after buying an additional 168,676 shares in the last quarter. TIAA CREF Trust Co. FSB MO increased its position in Adobe Systems by 1.1% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 194,088 shares of the software company’s stock valued at $21,066,000 after buying an additional 2,161 shares in the last quarter. M&T Bank Corp increased its position in Adobe Systems by 9.5% in the third quarter. M&T Bank Corp now owns 83,334 shares of the software company’s stock valued at $9,046,000 after buying an additional 7,241 shares in the last quarter. Finally, Delta Lloyd NV increased its position in Adobe Systems by 3.9% in the third quarter. Delta Lloyd NV now owns 157,455 shares of the software company’s stock valued at $17,090,000 after buying an additional 5,975 shares in the last quarter. 88.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.40% during trading on Friday, reaching $104.63. 568,033 shares of the company’s stock traded hands. Adobe Systems Inc. has a 1-year low of $71.27 and a 1-year high of $111.09. The company has a 50 day moving average of $107.05 and a 200-day moving average of $101.26. The company has a market capitalization of $52.02 billion, a price-to-earnings ratio of 53.38 and a beta of 1.14.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The company earned $1.46 billion during the quarter. During the same period last year, the business earned $0.54 EPS. The firm’s revenue was up 20.2% compared to the same quarter last year. Equities analysts predict that Adobe Systems Inc. will post $2.98 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. BTIG Research assumed coverage on shares of Adobe Systems in a research note on Wednesday, November 16th. They issued a “neutral” rating on the stock. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $112.28 price target on the stock. in a research note on Monday, November 7th. Cowen and Company reissued an “outperform” rating and issued a $120.00 price target on shares of Adobe Systems in a research note on Friday, November 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $125.00 price target on shares of Adobe Systems in a research note on Thursday, November 3rd. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $112.87.

In other news, EVP Michael A. Dillon sold 5,450 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $101.85, for a total transaction of $555,082.50. Following the completion of the sale, the executive vice president now owns 44,324 shares of the company’s stock, valued at $4,514,399.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John E. Warnock sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $106.99, for a total transaction of $534,950.00. Following the sale, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,721,255.12. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

Adobe Systems Company Profile

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