R.h. Dinel Investment Counsel Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : R.h. Dinel Investment Counsel reduced its stake in Adobe Systems Incorporated by 1.92% during the most recent quarter end. The investment management company now holds a total of 40,900 shares of Adobe Systems Incorporated which is valued at $3,892,044 after selling 800 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Apr 12, 2016.Adobe Systems Incorporated makes up approximately 4.53% of R.h. Dinel Investment Counsel’s portfolio.

Adobe Systems Incorporated opened for trading at $94.66 and hit $95.22 on the upside on Friday, eventually ending the session at $95.16, with a gain of 0.76% or 0.72 points. The heightened volatility saw the trading volume jump to 21,87,368 shares. Company has a market cap of $47,600 M.

Other Hedge Funds, Including , Gavekal Capital reduced its stake in ADBE by selling 4,332 shares or 6.61% in the most recent quarter. The Hedge Fund company now holds 61,209 shares of ADBE which is valued at $5,824,648. Adobe Systems Incorporated makes up approx 2.11% of Gavekal Capital’s portfolio. Triangle Securities Wealth Management added ADBE to its portfolio by purchasing 4,935 company shares during the most recent quarter which is valued at $458,708. Adobe Systems Incorporated makes up approx 0.30% of Triangle Securities Wealth Management’s portfolio.Capital Investment Services Of America reduced its stake in ADBE by selling 12,878 shares or 7.34% in the most recent quarter. The Hedge Fund company now holds 162,537 shares of ADBE which is valued at $15,107,814. Adobe Systems Incorporated makes up approx 2.90% of Capital Investment Services Of America’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 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 .Canaccord Genuity Initiated Adobe Systems Incorporated on Mar 31, 2016 to “Buy”, Price Target of the shares are set at $110.

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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