Adobe Systems Inc. (NASDAQ:ADBE) had its price objective upped by Pivotal Research from $124.00 to $125.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the software company’s stock. Pivotal Research’s price target indicates a potential upside of 15.83% from the stock’s previous close.

ADBE has been the subject of several other reports. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $99.10 target price for the company in a research report on Thursday, September 8th. Robert W. Baird raised Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, August 25th. Cowen and Company lifted their target price on Adobe Systems to $115.00 and gave the company an “outperform” rating in a research report on Friday, September 16th. Zacks Investment Research downgraded Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Credit Suisse Group AG lifted their price objective on Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Adobe Systems has an average rating of “Buy” and an average target price of $110.17.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) opened at 107.92 on Wednesday. The stock’s 50 day moving average is $101.10 and its 200 day moving average is $96.66. Adobe Systems has a 12-month low of $71.27 and a 12-month high of $108.50. The firm has a market cap of $53.78 billion, a P/E ratio of 60.97 and a beta of 1.24.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The company earned $1.46 billion during the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts expect that Adobe Systems will post $2.96 EPS for the current year.

In related news, CFO Mark Garrett sold 26,899 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $103.47, for a total transaction of $2,783,239.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Richard Rowley sold 271 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $95.68, for a total value of $25,929.28. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. BB&T Securities LLC increased its position in Adobe Systems by 126.8% in the second quarter. BB&T Securities LLC now owns 12,934 shares of the software company’s stock valued at $1,238,000 after buying an additional 7,231 shares during the period. Norinchukin Bank The raised its stake in shares of Adobe Systems by 2.6% in the second quarter. Norinchukin Bank The now owns 26,236 shares of the software company’s stock valued at $2,513,000 after buying an additional 660 shares in the last quarter. National Pension Service raised its stake in shares of Adobe Systems by 4.3% in the first quarter. National Pension Service now owns 273,210 shares of the software company’s stock valued at $25,627,000 after buying an additional 11,220 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of Adobe Systems by 16.1% in the first quarter. AMP Capital Investors Ltd now owns 328,285 shares of the software company’s stock valued at $30,786,000 after buying an additional 45,577 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Adobe Systems by 5.5% in the second quarter. Nordea Investment Management AB now owns 45,538 shares of the software company’s stock valued at $4,362,000 after buying an additional 2,370 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

About Adobe Systems

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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