Adobe Systems Inc. (NASDAQ:ADBE) – Dougherty & Co lowered their Q2 2017 earnings per share (EPS) estimates for shares of Adobe Systems in a research note issued on Tuesday. Dougherty & Co analyst R. Mattson now expects that the brokerage will post earnings per share of $0.78 for the quarter, down from their previous forecast of $0.80. Dougherty & Co currently has a “Buy” rating and a $122.00 target price on the stock. Dougherty & Co also issued estimates for Adobe Systems’ Q3 2017 earnings at $0.83 EPS and Q4 2017 earnings at $0.95 EPS.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share.

Several other brokerages have also issued reports on ADBE. RBC Capital Markets restated an “outperform” rating and issued a $116.00 price objective (up from $115.00) on shares of Adobe Systems in a report on Thursday. Argus boosted their price target on shares of Adobe Systems from $110.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday. Vetr lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $102.96 price target on the stock. in a research note on Wednesday. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Thursday. Finally, Robert W. Baird upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $110.73.

Shares of Adobe Systems (NASDAQ:ADBE) traded down 0.28% during trading on Friday, hitting $107.62. 1,590,324 shares of the company traded hands. The company has a 50-day moving average of $101.10 and a 200-day moving average of $96.66. The stock has a market capitalization of $53.66 billion, a PE ratio of 54.91 and a beta of 1.24. Adobe Systems has a 52-week low of $71.27 and a 52-week high of $108.50.

Several hedge funds and other institutional investors have recently made changes to their positions in ADBE. Brown Advisory Inc. boosted its position in shares of Adobe Systems by 16,033.1% in the second quarter. Brown Advisory Inc. now owns 3,828,878 shares of the software company’s stock worth $366,768,000 after buying an additional 3,805,145 shares in the last quarter. FMR LLC boosted its position in shares of Adobe Systems by 6.6% in the second quarter. FMR LLC now owns 36,342,447 shares of the software company’s stock worth $3,481,242,000 after buying an additional 2,249,163 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Adobe Systems by 19.9% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company’s stock worth $1,279,159,000 after buying an additional 2,215,100 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Adobe Systems by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 17,555,131 shares of the software company’s stock worth $1,646,671,000 after buying an additional 1,764,349 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Adobe Systems by 46.2% in the first quarter. Wellington Management Group LLP now owns 5,463,118 shares of the software company’s stock worth $512,441,000 after buying an additional 1,726,306 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

In other news, Chairman John E. Warnock sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $95.15, for a total value of $380,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were 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. 0.43% of the stock is owned by insiders.

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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