Adobe Systems Inc. (NASDAQ:ADBE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $100.99 and last traded at $100.88, with a volume of 1,484,772 shares changing hands. The stock had previously closed at $98.87.

Several equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Adobe Systems in a report on Wednesday. They issued an “overweight” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $104.00 price objective on shares of Adobe Systems in a research note on Wednesday, June 22nd. Rosenblatt Securities boosted their price objective on shares of Adobe Systems from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Monday, June 27th. Finally, Credit Suisse Group AG reduced their price objective on shares of Adobe Systems from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. Adobe Systems presently has an average rating of “Buy” and an average price target of $105.25.

The company’s 50 day moving average price is $96.63 and its 200-day moving average price is $92.81. The stock has a market cap of $50.13 billion and a PE ratio of 56.839.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 21st. The software company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. During the same period in the previous year, the business posted $0.48 EPS. The firm had revenue of $1.40 billion for the quarter. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that Adobe Systems Inc. will post $2.86 EPS for the current year.

In other Adobe Systems news, EVP Bradley Rencher sold 37,562 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $95.46, for a total transaction of $3,585,668.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Ann Lewnes sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $99.40, for a total transaction of $397,600.00. Following the sale, the chief marketing officer now directly owns 50,828 shares in the company, valued at approximately $5,052,303.20. The disclosure for this sale can be found here.

A number of hedge funds recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in Adobe Systems by 35.7% in the fourth quarter. GSA Capital Partners LLP now owns 14,286 shares of the software company’s stock valued at $1,342,000 after buying an additional 3,760 shares in the last quarter. Bank of Montreal Can increased its stake in Adobe Systems by 82.3% in the fourth quarter. Bank of Montreal Can now owns 195,850 shares of the software company’s stock valued at $18,396,000 after buying an additional 88,433 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Adobe Systems by 2.7% in the fourth quarter. Atlantic Trust Group LLC now owns 39,149 shares of the software company’s stock valued at $3,677,000 after buying an additional 1,026 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in Adobe Systems during the fourth quarter valued at $11,460,000. Finally, Advisors Asset Management Inc. increased its stake in Adobe Systems by 469.6% in the fourth quarter. Advisors Asset Management Inc. now owns 13,100 shares of the software company’s stock valued at $1,231,000 after buying an additional 10,800 shares in the last quarter.

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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