Analysts at BMO Capital Markets began coverage on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $125.00 price target on the software company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 15.42% from the company’s previous close.

A number of other research analysts also recently issued reports on ADBE. RBC Capital Markets reaffirmed an “outperform” rating and issued a $116.00 price objective (up previously from $115.00) on shares of Adobe Systems in a research report on Thursday, September 22nd. Cowen and Company lifted their price objective on shares of Adobe Systems from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 21st. Wunderlich reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Adobe Systems in a research report on Friday, December 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Adobe Systems in a research report on Thursday, November 3rd. Finally, Pacific Crest lifted their price objective on shares of Adobe Systems from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 21st. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $116.25.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) opened at 108.30 on Thursday. Adobe Systems has a 52-week low of $71.27 and a 52-week high of $111.09. The company has a market capitalization of $53.68 billion, a P/E ratio of 46.68 and a beta of 1.07. The firm has a 50-day moving average of $104.26 and a 200 day moving average of $102.65.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 15th. The software company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $1.61 billion for the quarter. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. Equities analysts predict that Adobe Systems will post $3.83 earnings per share for the current fiscal year.

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In related news, Chairman John E. Warnock sold 6,000 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $105.41, for a total value of $632,460.00. Following the completion of the sale, the chairman now owns 16,088 shares of the company’s stock, valued at $1,695,836.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Rowley sold 1,348 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $108.13, for a total transaction of $145,759.24. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Savant Capital LLC boosted its position in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock worth $330,000 after buying an additional 10 shares during the last quarter. Bailard Inc. boosted its position in Adobe Systems by 0.9% in the third quarter. Bailard Inc. now owns 2,228 shares of the software company’s stock worth $242,000 after buying an additional 20 shares during the last quarter. Private Trust Co. NA boosted its position in Adobe Systems by 0.3% in the third quarter. Private Trust Co. NA now owns 7,667 shares of the software company’s stock worth $832,000 after buying an additional 24 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Adobe Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 4,788 shares of the software company’s stock worth $520,000 after buying an additional 25 shares during the last quarter. Finally, Bank of The West boosted its position 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 worth $473,000 after buying an additional 38 shares during the last quarter. 86.25% 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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