Adobe Systems Inc. (NASDAQ:ADBE) shares 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 traded. The stock had previously closed at $98.87.

A number of brokerages have issued reports on ADBE. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $99.66 price target on the stock in a research note on Wednesday, June 22nd. Credit Suisse Group AG upped their price target on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Sanford C. Bernstein restated an “outperform” rating and set a $114.00 price target (up previously from $113.00) on shares of Adobe Systems in a research note on Wednesday, June 22nd. Finally, Cowen and Company began coverage on shares of Adobe Systems in a research note on Friday, June 24th. They set an “outperform” rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and a consensus price target of $105.25.

The stock has a market capitalization of $50.02 billion and a PE ratio of 56.72. The stock has a 50 day moving average of $96.88 and a 200-day moving average of $92.93.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results 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 quarter in the prior year, the firm earned $0.48 EPS. The company had revenue of $1.40 billion for the quarter. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Adobe Systems Inc. will post $2.87 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 4,000 shares of the business’s stock in a transaction 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 owns 50,828 shares in the company, valued at $5,052,303.20. The disclosure for this sale can be found here.

Several large investors recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of 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 during the last quarter. Bridgewater Associates LP acquired a new stake in Adobe Systems during the fourth quarter valued at approximately $9,157,000. KBC Group NV raised its stake in Adobe Systems by 4.5% in the fourth quarter. KBC Group NV now owns 122,566 shares of the software company’s stock valued at $11,514,000 after buying an additional 5,226 shares in the last quarter. I.G. Investment Management LTD. raised its stake in Adobe Systems by 334.0% in the fourth quarter. I.G. Investment Management LTD. now owns 192,724 shares of the software company’s stock valued at $18,104,000 after buying an additional 148,314 shares in the last quarter. Finally, Bank of Montreal Can raised 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.