Central Bank Trust Co buys $6,081,414 stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Central Bank Trust Co scooped up 5,628 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 11, 2016. The investment management firm now holds a total of 62,476 shares of Adobe Systems Incorporated which is valued at $6,081,414.Adobe Systems Incorporated makes up approximately 1.71% of Central Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Benjamin F. Edwards Company boosted its stake in ADBE in the latest quarter, The investment management firm added 114 additional shares and now holds a total of 132 shares of Adobe Systems Incorporated which is valued at $12,849.British Columbia Investment Management Corp reduced its stake in ADBE by selling 69,872 shares or 21.48% in the most recent quarter. The Hedge Fund company now holds 255,487 shares of ADBE which is valued at $24,728,587. Adobe Systems Incorporated makes up approx 0.21% of British Columbia Investment Management Corp’s portfolio.Triangle Securities Wealth Management reduced its stake in ADBE by selling 2,435 shares or 49.34% in the most recent quarter. The Hedge Fund company now holds 2,500 shares of ADBE which is valued at $241,975. Adobe Systems Incorporated makes up approx 0.18% of Triangle Securities Wealth Management’s portfolio.Integrated Investment Consultants boosted its stake in ADBE in the latest quarter, The investment management firm added 935 additional shares and now holds a total of 1,339 shares of Adobe Systems Incorporated which is valued at $126,843. Adobe Systems Incorporated makes up approx 0.07% of Integrated Investment Consultants’s portfolio.Cullinan Associates Inc boosted its stake in ADBE in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 52,460 shares of Adobe Systems Incorporated which is valued at $5,000,487. Adobe Systems Incorporated makes up approx 0.41% of Cullinan Associates Inc’s portfolio.

Adobe Systems Incorporated closed down -0.2 points or -0.21% at $97.34 with 21,25,797 shares getting traded on Wednesday. Post opening the session at $97.97, the shares hit an intraday low of $97.34 and an intraday high of $98.38 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 $0.71 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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