Adobe Systems Inc. (NASDAQ:ADBE) has been given an average recommendation of “Buy” by the twenty-nine analysts that are covering the firm. Six analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $112.87.

A number of research firms recently issued reports on ADBE. Zacks Investment Research lowered Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, August 19th. RBC Capital Markets reiterated an “outperform” rating and issued a $116.00 target price (up from $115.00) on shares of Adobe Systems in a report on Thursday, September 22nd. Cowen and Company lifted their target price on Adobe Systems from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, September 21st. Deutsche Bank AG reiterated a “buy” rating and issued a $125.00 target price on shares of Adobe Systems in a report on Thursday, November 3rd. Finally, Pacific Crest lifted their target price on Adobe Systems from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, September 21st.

Adobe Systems (NASDAQ:ADBE) opened at 104.08 on Tuesday. The stock has a 50 day moving average price of $108.03 and a 200-day moving average price of $100.58. The firm has a market capitalization of $51.75 billion, a price-to-earnings ratio of 53.10 and a beta of 1.14. Adobe Systems has a one year low of $71.27 and a one year high of $111.09.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate 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 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $2.98 earnings per share for the current fiscal year.

In other Adobe Systems news, EVP Michael A. Dillon sold 13,331 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $109.64, for a total value of $1,461,610.84. Following the completion of the transaction, the executive vice president now directly owns 30,993 shares in the company, valued at approximately $3,398,072.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John E. Warnock sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $106.99, for a total value of $534,950.00. Following the completion of the transaction, 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 owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BB&T Securities LLC increased its position in shares of 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. Gilder Gagnon Howe & Co. LLC increased its position in shares of Adobe Systems by 6.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 441,697 shares of the software company’s stock valued at $42,310,000 after buying an additional 28,356 shares during the period. Norinchukin Bank The increased its position 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 during the period. National Pension Service increased its position 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 during the period. Finally, Atalanta Sosnoff Capital LLC increased its position in shares of Adobe Systems by 53.5% in the second quarter. Atalanta Sosnoff Capital LLC now owns 220,831 shares of the software company’s stock valued at $21,153,000 after buying an additional 76,988 shares during the period. Institutional investors own 87.85% 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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