Shares of Adobe Systems Incorporated (NASDAQ:ADBE) hit a new 52-week high during trading on Tuesday . The company traded as high as $204.87 and last traded at $204.55, with a volume of 1757341 shares. The stock had previously closed at $201.56.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Tuesday, February 13th. Argus upped their target price on Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Evercore ISI restated a “buy” rating and issued a $220.00 target price on shares of Adobe Systems in a research note on Friday, January 26th. Guggenheim restated a “buy” rating and issued a $230.00 target price on shares of Adobe Systems in a research note on Tuesday, January 23rd. Finally, Stephens restated a “buy” rating and issued a $215.00 target price on shares of Adobe Systems in a research note on Tuesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $198.15.
The company has a market capitalization of $99,520.00, a price-to-earnings ratio of 59.63, a P/E/G ratio of 2.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. research analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.
In related news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the sale, the executive vice president now owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael A. Dillon sold 18,079 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $194.26, for a total value of $3,512,026.54. The disclosure for this sale can be found here. Insiders have sold 351,199 shares of company stock valued at $67,326,422 in the last three months. Insiders own 0.38% of the company’s stock.
Several large investors have recently bought and sold shares of ADBE. Egerton Capital UK LLP increased 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 last quarter. Standard Life Aberdeen plc grew its position in 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 worth $230,979,000 after acquiring an additional 1,038,038 shares during the period. Maverick Capital Ltd. grew its position in Adobe Systems by 49.2% in the fourth quarter. Maverick Capital Ltd. now owns 2,192,956 shares of the software company’s stock worth $384,294,000 after acquiring an additional 722,872 shares during the period. Winslow Capital Management LLC grew its position in 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 worth $273,207,000 after acquiring an additional 682,503 shares during the period. Finally, Millennium Management LLC grew its position in Adobe Systems by 85.5% in the fourth quarter. Millennium Management LLC now owns 1,439,110 shares of the software company’s stock worth $252,190,000 after acquiring an additional 663,194 shares during the period. 86.18% of the stock is 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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