Adobe Systems (NASDAQ:ADBE) had its target price lifted by analysts at Pivotal Research from $193.00 to $195.00 in a note issued to investors on Tuesday. The firm presently has a “hold” rating on the software company’s stock. Pivotal Research’s target price suggests a potential downside of 1.44% from the stock’s current price.
Several other analysts have also recently issued reports on 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. Vetr cut Adobe Systems from a “buy” rating to a “hold” rating and set a $199.00 target price on the stock. in a research note on Monday, January 15th. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Stephens reissued a “buy” rating and issued a $210.00 target price on shares of Adobe Systems in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research cut Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $190.18.
Shares of Adobe Systems (NASDAQ:ADBE) opened at $197.84 on Tuesday. 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 $96,483.73, a PE ratio of 58.36, a P/E/G ratio of 2.51 and a beta of 1.06. Adobe Systems has a 12 month low of $110.30 and a 12 month high of $198.21.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. analysts predict that Adobe Systems will post 4.58 EPS for the current fiscal year.
In related news, Director Amy Banse bought 1,125 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was acquired at an average cost of $177.35 per share, for a total transaction of $199,518.75. Following the purchase, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total transaction of $338,845.50. Following the sale, the executive vice president now owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,782 shares of company stock valued at $14,234,177. 0.38% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ADBE. Bender Robert & Associates bought a new stake in shares of Adobe Systems during the 3rd quarter valued at $3,476,000. Grove Bank & Trust boosted its holdings in Adobe Systems by 14.9% in the 3rd quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after buying an additional 591 shares during the period. Clinton Group Inc. bought a new position in shares of Adobe Systems during the 2nd quarter valued at about $411,000. Bluestein R H & Co. bought a new position in shares of Adobe Systems during the 3rd quarter valued at about $2,812,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Adobe Systems by 13.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock valued at $76,120,000 after purchasing an additional 59,670 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
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.