Cohen Klingenstein Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Cohen Klingenstein reduced its stake in Adobe Systems Incorporated by 1.17% during the most recent quarter end. The investment management company now holds a total of 44,159 shares of Adobe Systems Incorporated which is valued at $4,185,832 after selling 525 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Adobe Systems Incorporated makes up approximately 0.77% of Cohen Klingenstein’s portfolio.

Adobe Systems Incorporated closed down -1.58 points or -1.64% at $94.79 with 37,97,944 shares getting traded on Friday. Post opening the session at $96.17, the shares hit an intraday low of $93.76 and an intraday high of $96.24 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Cwm reduced its stake in ADBE by selling 22 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 500 shares of ADBE which is valued at $47,395.Bremer Trust National Association boosted its stake in ADBE in the latest quarter, The investment management firm added 124 additional shares and now holds a total of 13,262 shares of Adobe Systems Incorporated which is valued at $1,262,012. Adobe Systems Incorporated makes up approx 0.36% of Bremer Trust National Association’s portfolio.Dnb Asset Management As boosted its stake in ADBE in the latest quarter, The investment management firm added 10,900 additional shares and now holds a total of 40,545 shares of Adobe Systems Incorporated which is valued at $3,858,262. Adobe Systems Incorporated makes up approx 0.08% of Dnb Asset Management As’s portfolio.Chevy Chase Trust Holdings boosted its stake in ADBE in the latest quarter, The investment management firm added 9,407 additional shares and now holds a total of 424,088 shares of Adobe Systems Incorporated which is valued at $39,418,980. Adobe Systems Incorporated makes up approx 0.23% of Chevy Chase Trust Holdings’s portfolio.

On the company’s financial health, Adobe Systems Incorporated reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 17, 2016. Analyst had a consensus of $0.61. The company had revenue of $1383.30 million for the quarter, compared to analysts expectations of $1336.47 million. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Adobe Systems Incorporated. Company shares were Resumed by Credit Suisse on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 105 from a previous price target of $85 .Company shares were Reiterated by FBR Capital on Apr 12, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 115 from a previous price target of $100 .Company shares were Reiterated by Dougherty & Company on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $116 .

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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