Franklin Resources Inc. Decreases Holdings in Adobe Systems (NASDAQ:ADBE)

Franklin Resources Inc. decreased its holdings in shares of Adobe Systems (NASDAQ:ADBE) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,174,453 shares of the software company’s stock after selling 159,462 shares during the quarter. Franklin Resources Inc. owned 0.44% of Adobe Systems worth $381,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Egerton Capital UK LLP boosted its holdings in shares of Adobe Systems by 119.6% in the fourth quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock valued at $513,817,000 after purchasing an additional 1,596,653 shares during the period. Standard Life Aberdeen plc boosted its holdings in shares of Adobe Systems by 371.2% in the fourth quarter. Standard Life Aberdeen plc now owns 1,317,654 shares of the software company’s stock valued at $230,979,000 after purchasing an additional 1,038,038 shares during the period. Maverick Capital Ltd. boosted its holdings in shares of Adobe Systems by 49.2% in the fourth quarter. Maverick Capital Ltd. now owns 2,192,956 shares of the software company’s stock valued at $384,294,000 after purchasing an additional 722,872 shares during the period. Winslow Capital Management LLC boosted its holdings in shares of Adobe Systems by 77.9% in the fourth quarter. Winslow Capital Management LLC now owns 1,559,046 shares of the software company’s stock valued at $273,207,000 after purchasing an additional 682,503 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Adobe Systems by 556.2% in the fourth quarter. Schroder Investment Management Group now owns 711,219 shares of the software company’s stock valued at $124,634,000 after purchasing an additional 602,832 shares during the period. 87.03% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $245.00 price target (up previously from $220.00) on shares of Adobe Systems in a report on Friday, March 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $235.00 price target (up previously from $193.00) on shares of Adobe Systems in a report on Friday, March 16th. JPMorgan Chase restated a “neutral” rating and set a $235.00 target price (up previously from $210.00) on shares of Adobe Systems in a report on Friday, March 16th. Pivotal Research restated a “hold” rating and set a $199.00 target price (up previously from $195.00) on shares of Adobe Systems in a report on Friday, March 16th. Finally, Piper Jaffray upped their target price on Adobe Systems from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 16th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $217.88.

Shares of NASDAQ ADBE traded down $3.80 during mid-day trading on Monday, hitting $212.28. The stock had a trading volume of 3,494,936 shares, compared to its average volume of 3,078,520. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12. Adobe Systems has a twelve month low of $128.21 and a twelve month high of $231.34. The company has a market cap of $106,412.98, a price-to-earnings ratio of 59.13, a PEG ratio of 2.49 and a beta of 1.04.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The firm’s revenue was up 23.6% on a year-over-year basis. research analysts expect that Adobe Systems will post 5.35 earnings per share for the current year.

In other Adobe Systems news, Director John E. Warnock sold 5,000 shares of the stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $3,618,834.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,940 shares of the stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $223.86, for a total value of $658,148.40. Following the sale, the executive vice president now directly owns 76,201 shares in the company, valued at $17,058,355.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,586 shares of company stock worth $59,197,995. 0.33% of the stock is owned by insiders.

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Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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