Roffman Miller Associates Inc. PA Acquires 1,689 Shares of Adobe Inc. (NASDAQ:ADBE)

Roffman Miller Associates Inc. PA boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,077 shares of the software company's stock after acquiring an additional 1,689 shares during the period. Roffman Miller Associates Inc. PA's holdings in Adobe were worth $16,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ADBE. Copia Wealth Management purchased a new position in shares of Adobe during the 4th quarter worth about $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the fourth quarter worth approximately $28,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the first quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in Adobe in the fourth quarter worth $36,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of ADBE stock traded up $5.31 during mid-day trading on Tuesday, reaching $382.24. The company's stock had a trading volume of 3,707,186 shares, compared to its average volume of 3,436,092. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a market cap of $162.15 billion, a P/E ratio of 24.46, a PEG ratio of 1.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50-day moving average is $396.25 and its two-hundred day moving average is $407.34.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.48 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Robert W. Baird lifted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Evercore ISI reaffirmed an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Jefferies Financial Group lowered their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $480.08.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.