Adobe Systems (ADBE) Shares Gap Up After Strong Earnings

James Marshall
December 18, 2017

The company has market cap of $603.93 million. Janus Henderson Group PLC increased its position in Adobe Systems by 784.4% during the second quarter. It has a 19.18 P/E ratio. The firm offers VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement. Aspiriant Llc sold 7,396 shares as Adobe Sys Inc (ADBE)'s stock rose 14.01%.

Riverpark Capital Management LLC cut its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. Adobe Systems Inc now has $87.50 billion valuation. In the last 90 days, insiders have sold 14,849 shares of company stock valued at $2,554,091. About 1.50M shares traded.

In a report released yesterday, Derrick Wood from Cowen & Co. reiterated a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $205. It has outperformed by 25.59% the S&P500.

Since October 20, 2017, it had 0 insider buys, and 2 selling transactions for $614,071 activity. Also, Director John E. Warnock sold 6,800 shares of the business's stock in a transaction on Friday, October 20th. The insider Lewnes Ann sold $286,466. They expect $0.96 earnings per share, up 15.66% or $0.13 from last year's $0.83 per share. MBWM's profit will be $8.25 million for 18.31 P/E if the $0.50 EPS becomes a reality.

The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.16 by $0.10. Oppenheimer reissued a "hold" rating on shares of Adobe Systems in a research note on Friday. Therefore 0 are positive. Mercantile Bank had 13 analyst reports since July 22, 2015 according to SRatingsIntel. On Wednesday, June 22 the stock rating was maintained by Rosenblatt with "Buy". Keefe Bruyette & Woods maintained Mercantile Bank Corporation (NASDAQ:MBWM) on Friday, May 26 with "Hold" rating. The stock has "Hold" rating by Keefe Bruyette & Woods on Tuesday, October 3. The firm earned "Overweight" rating on Wednesday, August 10 by Stephens. The stock now has a consensus rating of "Buy" and a consensus target price of $183.35. As per Wednesday, September 20, the company rating was maintained by Wells Fargo. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $2,802,529.60. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. Robert W. Baird reiterated a "buy" rating and issued a $160.00 price target on shares of Adobe Systems in a research note on Friday, September 1st.

Investors sentiment decreased to 1.25 in 2017 Q2. Its up 0.01, from 1.1 in 2017Q1. 117 funds opened positions while 294 raised stakes.

Morgan Stanley owns 0% invested in Mercantile Bank Corporation (NASDAQ:MBWM) for 79,514 shares. Strs Ohio holds 992,784 shares. Renaissance Technology Ltd Limited Liability Company owns 681,215 shares for 0.03% of their portfolio. First Republic Investment Management Inc. now owns 305,104 shares of the software company's stock worth $45,516,000 after purchasing an additional 4,300 shares during the period. Tradewinds Mngmt Limited Co reported 9,600 shares. Swiss National Bank reported 0% stake. Sigma Planning stated it has 11,237 shares. After $0.90 actual EPS reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 6.67% EPS growth. Aqr Capital Mgmt has invested 0.01% of its portfolio in Chemical Financial Corporation (NASDAQ:CHFC). Brave Asset Management holds 0.23% or 3,102 shares. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned "Outperform" rating by Bernstein on Friday, March 18. Moreover, Barometer Mngmt Inc has 0.75% invested in Adobe Systems Incorporated (NASDAQ:ADBE). 17,700 were accumulated by Northstar Asset Lc.

A number of other research analysts also recently issued reports on ADBE. Dekabank Deutsche Girozentrale has 0.19% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 166,036 shares. (NYSE:DGI) stake by 7,445 shares and now owns 4.01M shares. Powershares Qqq Trust (Put) (QQQ) was raised too. Alliancebernstein Lp accumulated 0% or 18,800 shares.

Ratings analysis reveals 33% of VMware's analysts are positive.

Among 9 analysts covering Chemical Financial (NASDAQ:CHFC), 6 have Buy rating, 0 Sell and 3 Hold. The lowest target is $66.0 while the high is $92.0. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. VMW was included in 9 notes of analysts from August 30, 2016. The firm has "Mkt Perform" rating by FBR Capital given on Monday, September 28. The stock of VMware, Inc. The firm has "Outperform" rating by FIG Partners given on Friday, January 29. The rating was maintained by Canaccord Genuity with "Buy" on Wednesday, September 21. Mizuho maintained VMware, Inc. On Thursday, October 19 the stock rating was maintained by Jefferies with "Buy". Keefe Bruyette & Woods upgraded Chemical Financial Corporation (NASDAQ:CHFC) rating on Wednesday, January 27.

Cisco Systems Inc. holds 49.78% of its portfolio in VMware, Inc. for 4.33 million shares. Nelson Van Denburg & Campbell Wealth Management Grp Ltd Liability Com reported 125 shares stake. Lone Pine Cap Llc invested in 3.93M shares. The California-based Bender Robert & Associates has invested 2.45% in the stock. Citigroup Incorporated reported 172 shares stake. The stock increased 4.93% or $1.72 during the last trading session, reaching $36.62. About 9.19M shares traded or 198.04% up from the average. It has outperformed by 40.65% the S&P500.

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