Vetr upgraded shares of Adobe Systems Inc. (NASDAQ:ADBE) from a sell rating to a hold rating in a report published on Tuesday. The brokerage currently has $105.68 price objective on the software company’s stock.

ADBE has been the topic of a number of other reports. Robert W. Baird upgraded shares of Adobe Systems from a neutral rating to an outperform rating and set a $85.00 price objective on the stock in a report on Thursday, August 25th. Cowen and Company increased their target price on shares of Adobe Systems to $115.00 and gave the company an outperform rating in a research report on Friday, September 16th. Royal Bank Of Canada increased their target price on shares of Adobe Systems from $115.00 to $116.00 and gave the company an outperform rating in a research report on Wednesday, September 21st. Argus increased their target price on shares of Adobe Systems from $110.00 to $127.00 and gave the company a buy rating in a research report on Friday, September 23rd. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $120.00 target price (down from $125.00) on shares of Adobe Systems in a research report on Wednesday, September 21st. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $110.82.

Adobe Systems (NASDAQ:ADBE) opened at 108.39 on Tuesday. Adobe Systems has a 52-week low of $71.27 and a 52-week high of $109.76. The firm’s 50-day moving average price is $103.08 and its 200-day moving average price is $98.04. The company has a market cap of $53.89 billion, a price-to-earnings ratio of 55.30 and a beta of 1.27.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business had revenue of $1.46 billion for the quarter. During the same quarter in the previous year, the business posted $0.54 earnings per share. Adobe Systems’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Systems will post $2.97 EPS for the current year.

In other Adobe Systems news, Director Daniel Rosensweig sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $107.42, for a total transaction of $1,396,460.00. Following the completion of the sale, the director now directly owns 13,000 shares in the company, valued at $1,396,460. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman John E. Warnock sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $106.99, for a total transaction of $534,950.00. Following the sale, the chairman now owns 16,088 shares of the company’s stock, valued at $1,721,255.12. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares in the last quarter. Advisory Services Network LLC increased its stake in Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock valued at $118,000 after buying an additional 147 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock valued at $128,000 after buying an additional 935 shares in the last quarter. NEXT Financial Group Inc increased its stake in Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock valued at $137,000 after buying an additional 523 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in Adobe Systems during the second quarter valued at about $142,000. 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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