Adobe Systems Incorporated (NASDAQ:ADBE) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of ~$3.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.83. The company issued revenue guidance of ~$7.09 billion, compared to the consensus revenue estimate of $6.99 billion.Adobe Systems also updated its Q1 guidance to ~$0.87 EPS.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 108.26 on Wednesday. Adobe Systems Incorporated has a one year low of $71.27 and a one year high of $111.09. The company has a market cap of $53.66 billion, a P/E ratio of 46.66 and a beta of 1.07. The stock’s 50 day moving average is $104.26 and its 200-day moving average is $102.65.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 15th. The software company reported $0.90 EPS for the quarter, topping the consensus estimate 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 business’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Equities research analysts forecast that Adobe Systems Incorporated will post $3.83 earnings per share for the current year.

Earnings History and Estimates for Adobe Systems (NASDAQ:ADBE)

ADBE has been the subject of several recent research reports. Wunderlich reiterated a hold rating and issued a $115.00 target price on shares of Adobe Systems in a research note on Tuesday. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and issued a $114.00 target price (up previously from $113.00) on shares of Adobe Systems in a research note on Tuesday. RBC Capital Markets reiterated an outperform rating and issued a $116.00 target price (up previously from $115.00) on shares of Adobe Systems in a research note on Thursday, September 22nd. Cowen and Company lifted their target price on shares of Adobe Systems from $115.00 to $120.00 and gave the stock an outperform rating in a research note on Wednesday, September 21st. Finally, Deutsche Bank AG reiterated a buy rating and issued a $125.00 target price on shares of Adobe Systems in a research note on Thursday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Adobe Systems has an average rating of Buy and a consensus target price of $116.33.

In related news, VP Richard Rowley sold 1,348 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles M. Geschke sold 48,100 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total transaction of $5,003,843.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

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Hedge funds have recently made changes to their positions in the stock. WFG Advisors LP boosted its position 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. Cibc World Markets Corp boosted its position in Adobe Systems by 12.8% in the second quarter. Cibc World Markets Corp now owns 33,700 shares of the software company’s stock valued at $3,228,000 after buying an additional 3,820 shares in the last quarter. Martingale Asset Management L P boosted its position in Adobe Systems by 391.1% in the second quarter. Martingale Asset Management L P now owns 62,915 shares of the software company’s stock valued at $6,027,000 after buying an additional 50,103 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Adobe Systems by 31.4% in the second quarter. State of Wisconsin Investment Board now owns 665,162 shares of the software company’s stock valued at $63,716,000 after buying an additional 158,900 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in Adobe Systems by 149.3% in the second quarter. BlueMountain Capital Management LLC now owns 7,744 shares of the software company’s stock valued at $742,000 after buying an additional 4,638 shares in the last quarter. 86.25% of the stock is currently owned by 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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