ADBE has been the subject of a number of other research reports. Zacks Investment Research cut shares of Adobe Systems from a hold rating to a sell rating in a report on Thursday, September 14th. Vetr cut shares of Adobe Systems from a hold rating to a sell rating and set a $150.30 target price for the company. in a research note on Thursday, August 31st. Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the stock a buy rating in a research note on Friday, October 6th. Bank of America reissued a buy rating and set a $220.00 target price (up previously from $213.00) on shares of Adobe Systems in a research note on Wednesday. Finally, UBS initiated coverage on shares of Adobe Systems in a research note on Thursday, November 9th. They set a buy rating and a $217.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $183.35.
Adobe Systems (NASDAQ:ADBE) traded up $2.51 on Friday, reaching $177.51. 8,845,867 shares of the company’s stock were exchanged, compared to its average volume of 2,660,000. Adobe Systems has a one year low of $101.91 and a one year high of $186.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $88,760.00, a PE ratio of 49.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. analysts predict that Adobe Systems will post 4.66 earnings per share for the current year.
In other news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,849 shares of company stock worth $2,554,091. Company insiders own 0.38% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its stake in Adobe Systems by 10.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,451,549 shares of the software company’s stock worth $216,542,000 after buying an additional 138,133 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Adobe Systems during the 3rd quarter worth approximately $216,000. GSA Capital Partners LLP purchased a new stake in Adobe Systems during the 3rd quarter worth approximately $2,890,000. Cypress Capital Group increased its stake in Adobe Systems by 26.6% during the 3rd quarter. Cypress Capital Group now owns 10,907 shares of the software company’s stock worth $1,627,000 after buying an additional 2,290 shares during the period. Finally, Fieldpoint Private Securities LLC increased its stake in Adobe Systems by 24.0% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 8,007 shares of the software company’s stock worth $1,194,000 after buying an additional 1,552 shares during the period. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
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About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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