Adobe Systems Inc. (ADBE) Now Covered by BTIG Research
Equities research analysts at BTIG Research started coverage on shares of Adobe Systems Inc. (NASDAQ:ADBE) in a report released on Wednesday. The firm set a “neutral” rating on the software company’s stock.
A number of other research firms have also weighed in on ADBE. Vetr lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $112.28 target price for the company. in a research report on Monday, November 7th. Piper Jaffray Cos. assumed coverage on shares of Adobe Systems in a research report on Monday, July 25th. They set an “overweight” rating and a $125.00 target price for the company. Royal Bank Of Canada boosted their target price on shares of Adobe Systems from $115.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 21st. Dougherty & Co reissued a “buy” rating and set a $122.00 target price on shares of Adobe Systems in a research report on Friday, September 23rd. Finally, Cowen and Company reissued an “outperform” rating and set a $120.00 target price on shares of Adobe Systems in a research report on Friday, November 4th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $112.87.
Adobe Systems (NASDAQ:ADBE) opened at 105.81 on Wednesday. Adobe Systems has a 52 week low of $71.27 and a 52 week high of $111.09. The firm has a market capitalization of $52.61 billion, a P/E ratio of 53.98 and a beta of 1.14. The firm has a 50-day moving average price of $107.41 and a 200-day moving average price of $100.89.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities analysts forecast that Adobe Systems will post $2.98 EPS for the current year.
In other Adobe Systems news, CFO Mark Garrett sold 26,899 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $103.47, for a total value of $2,783,239.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael A. Dillon sold 13,331 shares of the stock in a transaction on Monday, October 10th. The stock was sold at an average price of $109.64, for a total transaction of $1,461,610.84. Following the completion of the sale, the executive vice president now owns 30,993 shares in the company, valued at $3,398,072.52. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Boothbay Fund Management LLC purchased a new stake in Adobe Systems during the first quarter valued at $267,000. First Republic Investment Management Inc. raised its stake in Adobe Systems by 99.8% in the first quarter. First Republic Investment Management Inc. now owns 226,264 shares of the software company’s stock valued at $21,223,000 after buying an additional 113,001 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Adobe Systems by 55.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,126 shares of the software company’s stock valued at $1,795,000 after buying an additional 6,798 shares during the period. Squarepoint Ops LLC purchased a new stake in Adobe Systems during the first quarter valued at $2,522,000. Finally, Seven Eight Capital LLC raised its stake in Adobe Systems by 396.1% in the first quarter. Seven Eight Capital LLC now owns 25,300 shares of the software company’s stock valued at $2,373,000 after buying an additional 20,200 shares during the period. Institutional investors own 87.31% 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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