Adobe Systems (NASDAQ:ADBE)‘s stock had its “neutral” rating restated by JPMorgan Chase in a research note issued to investors on Friday, March 16th. They currently have a $235.00 price objective on the software company’s stock, up from their previous price objective of $210.00. JPMorgan Chase’s price target suggests a potential upside of 7.50% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Barclays raised their target price on Adobe Systems from $193.00 to $221.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, February 13th. KeyCorp raised their target price on Adobe Systems to $252.00 and gave the stock an “overweight” rating in a research note on Friday, March 16th. Jefferies Group raised their target price on Adobe Systems to $205.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research note on Friday, December 15th. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and a consensus target price of $217.88.
Shares of ADBE stock traded down $4.93 on Friday, hitting $218.61. 2,964,487 shares of the stock were exchanged, compared to its average volume of 4,040,011. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market capitalization of $107,658.87, a price-to-earnings ratio of 60.89, a PEG ratio of 2.52 and a beta of 1.04. Adobe Systems has a one year low of $128.21 and a one year high of $231.34.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) EPS. equities analysts predict that Adobe Systems will post 5.35 EPS for the current year.
In other Adobe Systems news, Director Charles M. Geschke sold 21,276 shares of Adobe Systems stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total value of $3,969,037.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total value of $1,124,700.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at $3,618,834.72. The disclosure for this sale can be found here. Insiders sold a total of 316,586 shares of company stock worth $62,229,415 over the last ninety days. Insiders own 0.33% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Adobe Systems by 25.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,339 shares of the software company’s stock worth $5,842,000 after buying an additional 6,663 shares during the last quarter. Certified Advisory Corp bought a new stake in shares of Adobe Systems in the 4th quarter worth approximately $180,000. Xact Kapitalforvaltning AB grew its position in shares of Adobe Systems by 8.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 91,821 shares of the software company’s stock worth $16,091,000 after buying an additional 7,059 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Adobe Systems by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 227,725 shares of the software company’s stock worth $39,906,000 after buying an additional 6,195 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Adobe Systems by 1.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 257,118 shares of the software company’s stock worth $45,057,000 after buying an additional 3,176 shares during the last quarter. Hedge funds and other institutional investors own 87.03% of the company’s stock.
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Adobe Systems Company Profile
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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