Ashmore Wealth Management Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Ashmore Wealth Management reduced its stake in Adobe Systems Incorporated by 27.62% during the most recent quarter end. The investment management company now holds a total of 805,538 shares of Adobe Systems Incorporated which is valued at $81,391,560 after selling 307,377 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Adobe Systems Incorporated makes up approximately 2.90% of Ashmore Wealth Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in ADBE by selling 914,017 shares or 94.48% in the most recent quarter. The Hedge Fund company now holds 53,439 shares of ADBE which is valued at $5,399,477. Adobe Systems Incorporated makes up approx 0.01% of Citadel Advisors’s portfolio.Old Mutual Customised Solutions (proprietary) Ltd reduced its stake in ADBE by selling 7,200 shares or 73.47% in the most recent quarter. The Hedge Fund company now holds 2,600 shares of ADBE which is valued at $262,704. Adobe Systems Incorporated makes up approx 0.06% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Blackrock Fund Advisors boosted its stake in ADBE in the latest quarter, The investment management firm added 186,539 additional shares and now holds a total of 7,498,159 shares of Adobe Systems Incorporated which is valued at $757,613,985. Adobe Systems Incorporated makes up approx 0.16% of Blackrock Fund Advisors’s portfolio.Gerstein Fisher boosted its stake in ADBE in the latest quarter, The investment management firm added 178 additional shares and now holds a total of 11,009 shares of Adobe Systems Incorporated which is valued at $1,119,285. Adobe Systems Incorporated makes up approx 0.14% of Gerstein Fisher’s portfolio. Capital Analysts sold out all of its stake in ADBE during the most recent quarter. The investment firm sold 138 shares of ADBE which is valued $13,495.

Adobe Systems Incorporated opened for trading at $101.85 and hit $102.68 on the upside on Monday, eventually ending the session at $102.3, with a gain of 0.24% or 0.24 points. The heightened volatility saw the trading volume jump to 11,61,560 shares. Company has a market cap of $50,975 M.

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.

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