Adobe Systems Inc. (NASDAQ:ADBE) 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 research analysts have recently commented on the company. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $104.00 price target on shares of Adobe Systems in a research report on Wednesday, June 22nd. Rosenblatt Securities boosted their price target on Adobe Systems from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, June 22nd. 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. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $105.00 price target on shares of Adobe Systems in a research report on Wednesday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.99.

The firm has a market capitalization of $51.61 billion and a PE ratio of 58.51. The stock’s 50-day moving average is $99.57 and its 200 day moving average is $94.99.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, June 21st. The software company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. During the same quarter in the previous year, the company earned $0.48 earnings per share. The business earned $1.40 billion during the quarter. Adobe Systems’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts predict that Adobe Systems Inc. will post $2.87 earnings per share for the current year.

In related news, EVP Michael A. Dillon sold 5,450 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $101.85, for a total transaction of $555,082.50. Following the sale, the executive vice president now directly owns 44,324 shares of the company’s stock, valued at approximately $4,514,399.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley Rencher sold 37,562 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.46, for a total transaction 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. increased its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 approximately 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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