Mitchell Mcleod Pugh Williams Inc buys $1,542,539 stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Mitchell Mcleod Pugh Williams Inc scooped up 320 additional shares in Adobe Systems Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 15,774 shares of Adobe Systems Incorporated which is valued at $1,542,539.Adobe Systems Incorporated makes up approximately 1.14% of Mitchell Mcleod Pugh Williams Inc’s portfolio.

Other Hedge Funds, Including , Arcadia Investment Management Corpmi boosted its stake in ADBE in the latest quarter, The investment management firm added 611 additional shares and now holds a total of 38,661 shares of Adobe Systems Incorporated which is valued at $3,780,659. Adobe Systems Incorporated makes up approx 1.19% of Arcadia Investment Management Corpmi’s portfolio.Mai Capital Management boosted its stake in ADBE in the latest quarter, The investment management firm added 12,548 additional shares and now holds a total of 34,289 shares of Adobe Systems Incorporated which is valued at $3,353,121. Adobe Systems Incorporated makes up approx 0.27% of Mai Capital Management’s portfolio.Forte Capital Adv boosted its stake in ADBE in the latest quarter, The investment management firm added 2,540 additional shares and now holds a total of 33,713 shares of Adobe Systems Incorporated which is valued at $3,281,623. Adobe Systems Incorporated makes up approx 1.24% of Forte Capital Adv’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in ADBE in the latest quarter, The investment management firm added 8,148 additional shares and now holds a total of 129,479 shares of Adobe Systems Incorporated which is valued at $12,532,272. Adobe Systems Incorporated makes up approx 0.26% of Exxonmobil Investment Management Inc Tx’s portfolio.

Adobe Systems Incorporated closed down -0.04 points or -0.04% at $97.79 with 15,44,201 shares getting traded on Monday. Post opening the session at $97.74, the shares hit an intraday low of $97.58 and an intraday high of $98.53 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. 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 .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 .

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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