Stralem Co Inc Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Stralem Co Inc reduced its stake in Adobe Systems Incorporated by 10.86% during the most recent quarter end. The investment management company now holds a total of 252,400 shares of Adobe Systems Incorporated which is valued at $24,836,160 after selling 30,750 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Adobe Systems Incorporated makes up approximately 2.80% of Stralem Co Inc’s portfolio.

Other Hedge Funds, Including , First National Bank Of Omaha boosted its stake in ADBE in the latest quarter, The investment management firm added 942 additional shares and now holds a total of 83,344 shares of Adobe Systems Incorporated which is valued at $8,201,050. Adobe Systems Incorporated makes up approx 0.62% of First National Bank Of Omaha’s portfolio.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.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 opened for trading at $98.16 and hit $98.89 on the upside on Wednesday, eventually ending the session at $98.4, with a gain of 0.62% or 0.61 points. The heightened volatility saw the trading volume jump to 15,53,788 shares. Company has a market cap of $49,032 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. 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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