Adobe Systems Incorporated (NASDAQ:ADBE) had its target price lifted by Citigroup Inc to $141.00 in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the software company’s stock.

Several other analysts also recently commented on ADBE. Zacks Investment Research downgraded Adobe Systems from a buy rating to a hold rating in a research note on Tuesday, November 22nd. BTIG Research reissued a neutral rating on shares of Adobe Systems in a research note on Tuesday, December 6th. Cowen and Company set a $120.00 price objective on Adobe Systems and gave the stock a buy rating in a research note on Wednesday, December 7th. Wunderlich reissued a hold rating and issued a $115.00 price objective on shares of Adobe Systems in a research note on Friday, December 16th. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $124.00 price objective on shares of Adobe Systems in a research note on Friday, December 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Adobe Systems presently has a consensus rating of Buy and a consensus price target of $125.71.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) traded down 0.88% during midday trading on Friday, reaching $125.89. The company’s stock had a trading volume of 2,292,058 shares. Adobe Systems has a 12 month low of $90.35 and a 12 month high of $130.30. The company has a 50-day moving average price of $118.41 and a 200-day moving average price of $109.05. The firm has a market cap of $62.20 billion, a price-to-earnings ratio of 54.26 and a beta of 1.06.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm earned $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. Equities analysts expect that Adobe Systems will post $3.94 earnings per share for the current year.

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In other news, CFO Mark Garrett sold 45,199 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $114.12, for a total value of $5,158,109.88. Following the completion of the transaction, the chief financial officer now directly owns 6,339 shares of the company’s stock, valued at $723,406.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Burgess sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $113.19, for a total value of $2,829,750.00. The disclosure for this sale can be found here. Insiders sold 396,890 shares of company stock valued at $44,505,838 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Decatur Capital Management Inc. raised its position in Adobe Systems by 2.8% in the third quarter. Decatur Capital Management Inc. now owns 134,070 shares of the software company’s stock worth $14,552,000 after buying an additional 3,650 shares during the last quarter. Principal Financial Group Inc. raised its stake in Adobe Systems by 5.7% in the third quarter. Principal Financial Group Inc. now owns 744,246 shares of the software company’s stock valued at $80,780,000 after buying an additional 40,224 shares in the last quarter. Delta Lloyd NV raised its stake in Adobe Systems by 3.9% in the third quarter. Delta Lloyd NV now owns 157,455 shares of the software company’s stock valued at $17,090,000 after buying an additional 5,975 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Adobe Systems by 174.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 141,972 shares of the software company’s stock valued at $15,306,000 after buying an additional 90,200 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in Adobe Systems by 2.9% in the third quarter. Commonwealth Equity Services Inc now owns 35,295 shares of the software company’s stock valued at $3,831,000 after buying an additional 982 shares in the last quarter. 87.25% of the stock is owned by hedge funds and other institutional investors.

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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