Adobe Systems Incorporated (ADBE) : Valueact Holdings reduced its stake in Adobe Systems Incorporated by 99.96% during the most recent quarter end. The investment management company now holds a total of 6,000 shares of Adobe Systems Incorporated which is valued at $606,240 after selling 14,004,739 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Adobe Systems Incorporated makes up approximately 0.01% of Valueact Holdings’s portfolio.
Other Hedge Funds, Including , Everpoint Asset Management boosted its stake in ADBE in the latest quarter, The investment management firm added 7,500 additional shares and now holds a total of 45,000 shares of Adobe Systems Incorporated which is valued at $4,546,800. Adobe Systems Incorporated makes up approx 0.12% of Everpoint Asset Management’s portfolio. Hudson Bay Capital Management Lp added ADBE to its portfolio by purchasing 10,500 company shares during the most recent quarter which is valued at $1,060,920. Adobe Systems Incorporated makes up approx 0.10% of Hudson Bay Capital Management Lp’s portfolio.Meyer Handelman Co boosted its stake in ADBE in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 3,600 shares of Adobe Systems Incorporated which is valued at $353,016. Adobe Systems Incorporated makes up approx 0.02% of Meyer Handelman Co’s portfolio.
Adobe Systems Incorporated opened for trading at $102.23 and hit $102.97 on the upside on Thursday, eventually ending the session at $102.9, with a gain of 0.58% or 0.59 points. The heightened volatility saw the trading volume jump to 20,06,579 shares. Company has a market cap of $51,274 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.