Adobe Systems Incorporated (NASDAQ:ADBE) was downgraded by Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued on Monday.
Other research analysts also recently issued reports about the company. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a research note on Wednesday, September 20th. Piper Jaffray Companies upped their price target on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus upped their price target on Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Finally, Barclays PLC boosted their price objective on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $158.16.
Adobe Systems (ADBE) opened at 153.93 on Monday. The firm has a 50-day moving average price of $152.02 and a 200 day moving average price of $143.47. The firm has a market cap of $75.88 billion, a price-to-earnings ratio of 48.39 and a beta of 0.99. Adobe Systems has a 1-year low of $98.00 and a 1-year high of $157.89.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. Equities analysts predict that Adobe Systems will post $4.22 earnings per share for the current year.
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In related news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. Insiders sold a total of 28,359 shares of company stock valued at $4,255,181 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC purchased a new position in shares of Adobe Systems in the second quarter worth $100,000. CWM LLC increased its stake in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems in the second quarter worth $141,000. Acrospire Investment Management LLC increased its stake in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new stake in shares of Adobe Systems in the second quarter worth $141,000. 87.49% of the stock is owned by institutional investors and hedge funds.
Adobe Systems Company Profile
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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