Rotella Capital Management adds Adobe Systems Incorporated (ADBE) to its portfolio

Adobe Systems Incorporated (ADBE) : Rotella Capital Management added new position in Adobe Systems Incorporated during the most recent quarter end. The investment management firm now holds 2,790 shares of Adobe Systems Incorporated which is valued at $267,756 , the company said in a statement filed on May 13, 2016 with the SEC.Adobe Systems Incorporated makes up approximately 10.84% of Rotella Capital Management’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management boosted its stake in ADBE in the latest quarter, The investment management firm added 84,915 additional shares and now holds a total of 470,026 shares of Adobe Systems Incorporated which is valued at $45.1 Million. Adobe Systems Incorporated makes up approx 0.65% of Riverhead Capital Management’s portfolio.Investec Asset Management Ltd reduced its stake in ADBE by selling 53,392 shares or 95.05% in the most recent quarter. The Hedge Fund company now holds 2,781 shares of ADBE which is valued at $266,893.Exane Derivatives boosted its stake in ADBE in the latest quarter, The investment management firm added 232 additional shares and now holds a total of 519 shares of Adobe Systems Incorporated which is valued at $48,942. Adobe Systems Incorporated makes up approx 0.01% of Exane Derivatives’s portfolio.Cadence Capital Management reduced its stake in ADBE by selling 506 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 15,690 shares of ADBE which is valued at $1.5 Million. Adobe Systems Incorporated makes up approx 0.10% of Cadence Capital Management’s portfolio.Pitcairn Co reduced its stake in ADBE by selling 247 shares or 1.94% in the most recent quarter. The Hedge Fund company now holds 12,472 shares of ADBE which is valued at $1.2 Million. Adobe Systems Incorporated makes up approx 0.15% of Pitcairn Co’s portfolio.

Adobe Systems Incorporated closed down -0.02 points or -0.02% at $99.61 with 19,55,802 shares getting traded on Wednesday. Post opening the session at $99.91, the shares hit an intraday low of $98.8001 and an intraday high of $99.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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