Adobe Systems Inc. (NASDAQ:ADBE) had its price objective raised by equities researchers at Cowen and Company from $115.00 to $120.00 in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the software company’s stock. Cowen and Company’s price objective would indicate a potential upside of 11.19% from the company’s current price.

ADBE has been the subject of a number of other research reports. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $99.10 price target for the company in a research report on Thursday, September 8th. Robert W. Baird upgraded Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, August 25th. Royal Bank Of Canada raised their price target on Adobe Systems from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday. Zacks Investment Research cut Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Credit Suisse Group AG raised their price target on Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $110.17.

Shares of Adobe Systems (NASDAQ:ADBE) opened at 107.92 on Wednesday. The firm’s 50-day moving average is $101.10 and its 200-day moving average is $96.66. Adobe Systems has a 52 week low of $71.27 and a 52 week high of $108.50. The stock has a market capitalization of $53.78 billion, a price-to-earnings ratio of 60.97 and a beta of 1.24.

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

In related news, CAO Richard Rowley sold 271 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $95.68, for a total transaction of $25,929.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley Rencher sold 37,562 shares of the firm’s stock in a transaction dated 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. Corporate insiders own 0.43% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Savant Capital LLC increased its stake in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock valued at $330,000 after buying an additional 10 shares in the last quarter. Johanson Financial Advisors Inc. increased its stake in Adobe Systems by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 3,823 shares of the software company’s stock valued at $366,000 after buying an additional 20 shares in the last quarter. Bank of The West increased its stake in Adobe Systems by 0.8% in the second quarter. Bank of The West now owns 4,943 shares of the software company’s stock valued at $473,000 after buying an additional 38 shares in the last quarter. EP Wealth Advisors Inc. increased its stake in Adobe Systems by 0.9% in the first quarter. EP Wealth Advisors Inc. now owns 5,074 shares of the software company’s stock valued at $476,000 after buying an additional 44 shares in the last quarter. Finally, Aspen Investment Management Inc increased its stake in Adobe Systems by 1.5% in the first quarter. Aspen Investment Management Inc now owns 3,371 shares of the software company’s stock valued at $316,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Adobe Systems Company Profile

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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