Adobe Systems Inc. (NASDAQ:ADBE)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $102.84 and last traded at $102.52, with a volume of 959,426 shares changing hands. The stock had previously closed at $102.31.

A number of equities analysts have recently commented on ADBE shares. Credit Suisse Group AG lifted their target price on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, June 1st. Vetr cut shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $95.70 target price on the stock. in a report on Tuesday, July 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $112.00 target price on shares of Adobe Systems in a report on Monday, June 13th. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price objective on shares of Adobe Systems in a research report on Wednesday, June 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $114.00 price objective (up from $113.00) on shares of Adobe Systems in a research report on Wednesday, June 22nd. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $104.99.

The stock has a 50 day moving average price of $99.21 and a 200-day moving average price of $94.87. The firm has a market capitalization of $51.22 billion and a PE ratio of 58.07.

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

In other Adobe Systems news, EVP Michael A. Dillon sold 5,450 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $101.85, for a total transaction of $555,082.50. Following the completion of the sale, the executive vice president now directly owns 44,324 shares in the company, valued at approximately $4,514,399.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $95.46, for a total value of $3,585,668.52. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Adobe Systems stock. Schwab Charles Investment Management Inc. raised its position in Adobe Systems Inc. (NASDAQ:ADBE) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,280,333 shares of the software company’s stock after buying an additional 45,990 shares during the period. Schwab Charles Investment Management Inc. owned 0.26% of Adobe Systems worth $120,275,000 at the end of the most recent 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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