Adobe Systems Inc. (NASDAQ:ADBE) reached a new 52-week high during trading on Friday . The stock traded as high as $102.75 and last traded at $101.63, with a volume of 846,101 shares traded. The stock had previously closed at $101.69.

A number of research analysts recently issued reports on the stock. Vetr raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $106.54 price target for the company in a research report on Friday, April 29th. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Credit Suisse Group AG lifted their price target on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Barclays PLC lifted their price target on shares of Adobe Systems to $75.00 in a research report on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $100.00 price target on shares of Adobe Systems in a research report on Thursday, June 9th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $104.99.

The firm has a 50 day moving average of $98.64 and a 200 day moving average of $93.96. The firm has a market cap of $50.65 billion and a P/E ratio of 57.42.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, June 21st. The software company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The business earned $1.40 billion during the quarter. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. On average, equities analysts forecast that Adobe Systems Inc. will post $2.87 EPS for the current fiscal year.

In other news, CMO Ann Lewnes sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $92.39, for a total transaction of $369,560.00. Following the sale, the chief marketing officer now owns 46,828 shares of the company’s stock, valued at approximately $4,326,438.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard Rowley sold 271 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $95.68, for a total transaction of $25,929.28. The disclosure for this sale can be found here.

Other large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Adobe Systems by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,280,333 shares of the software company’s stock worth $120,275,000 after buying an additional 45,990 shares during the last quarter. Advisors Asset Management Inc. boosted 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 worth $1,231,000 after buying an additional 10,800 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Adobe Systems by 163.8% in the fourth quarter. State of Tennessee Treasury Department now owns 200,776 shares of the software company’s stock worth $18,861,000 after buying an additional 124,676 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Adobe Systems by 3.2% in the fourth quarter. American International Group Inc. now owns 225,259 shares of the software company’s stock worth $21,161,000 after buying an additional 6,904 shares during 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.