Adobe Systems (NASDAQ:ADBE) had its target price lifted by Jefferies Group to $263.00 in a research report sent to investors on Friday morning. Jefferies Group currently has a buy rating on the software company’s stock.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Adobe Systems from a strong-buy rating to a hold rating in a research report on Tuesday, November 21st. Royal Bank of Canada raised their target price on shares of Adobe Systems to $235.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Vetr lowered shares of Adobe Systems from a strong-buy rating to a buy rating and set a $198.52 target price on the stock. in a research report on Monday, December 18th. Barclays raised their target price on shares of Adobe Systems from $193.00 to $221.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Finally, Stephens restated a buy rating and issued a $210.00 target price on shares of Adobe Systems in a research report on Wednesday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $214.06.
Shares of Adobe Systems (NASDAQ:ADBE) traded up $6.68 during trading on Friday, reaching $225.55. 8,706,841 shares of the company’s stock were exchanged, compared to its average volume of 2,547,162. Adobe Systems has a 1 year low of $124.51 and a 1 year high of $228.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $107,975.90, a price-to-earnings ratio of 59.99, a P/E/G ratio of 2.62 and a beta of 1.10.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.79%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business posted ($0.43) earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. research analysts expect that Adobe Systems will post 5.23 earnings per share for the current year.
In other Adobe Systems news, EVP Donna Morris sold 29,404 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $197.62, for a total value of $5,810,818.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Warnock sold 4,600 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $174.55, for a total transaction of $802,930.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,808,160.40. The disclosure for this sale can be found here. Insiders have sold 349,246 shares of company stock valued at $66,987,577 in the last three months. 0.33% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Grove Bank & Trust grew its holdings in Adobe Systems by 14.9% in the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after purchasing an additional 591 shares during the period. Bluestein R H & Co. acquired a new stake in Adobe Systems in the third quarter worth $2,812,000. Great West Life Assurance Co. Can grew its holdings in Adobe Systems by 13.0% in the third quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock worth $76,120,000 after purchasing an additional 59,670 shares during the period. Bank of Hawaii grew its holdings in Adobe Systems by 93.3% in the fourth quarter. Bank of Hawaii now owns 10,030 shares of the software company’s stock worth $1,758,000 after purchasing an additional 4,840 shares during the period. Finally, Waldron LP grew its holdings in Adobe Systems by 19.9% in the third quarter. Waldron LP now owns 3,724 shares of the software company’s stock worth $555,000 after purchasing an additional 618 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.
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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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