Adobe Systems Incorporated (NASDAQ:ADBE) hit a new 52-week high during trading on Tuesday . The stock traded as high as $150.44 and last traded at $150.33, with a volume of 909,779 shares changing hands. The stock had previously closed at $149.16.

Several brokerages recently commented on ADBE. Vetr cut Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target for the company. in a research note on Thursday, May 25th. Barclays PLC boosted their price target on Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus boosted their price target on Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Piper Jaffray Companies upped their target price on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Finally, Pivotal Research reaffirmed a “sell” rating and set a $114.00 target price (up previously from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $154.20.

The firm has a market cap of $74.19 billion, a P/E ratio of 52.37 and a beta of 1.00. The company has a 50 day moving average of $145.85 and a 200 day moving average of $133.62.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total value of $311,034.57. Following the completion of the sale, the executive vice president now owns 61,944 shares in the company, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,239 shares of company stock valued at $14,877,475. Insiders own 0.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ADBE. Piedmont Investment Advisors LLC raised its stake in Adobe Systems by 2.0% in the second quarter. Piedmont Investment Advisors LLC now owns 105,614 shares of the software company’s stock worth $14,938,000 after buying an additional 2,065 shares during the period. Westwood Holdings Group Inc. raised its stake in Adobe Systems by 12.5% in the second quarter. Westwood Holdings Group Inc. now owns 6,305 shares of the software company’s stock worth $892,000 after buying an additional 700 shares during the period. Intellectus Partners LLC raised its stake in Adobe Systems by 30.7% in the second quarter. Intellectus Partners LLC now owns 8,051 shares of the software company’s stock worth $1,139,000 after buying an additional 1,889 shares during the period. Cypress Capital Group bought a new stake in Adobe Systems during the second quarter worth approximately $1,219,000. Finally, Nomura Holdings Inc. raised its stake in Adobe Systems by 4,495.9% in the second quarter. Nomura Holdings Inc. now owns 121,240 shares of the software company’s stock worth $17,158,000 after buying an additional 118,602 shares during the period. Hedge funds and other institutional investors own 87.64% of the company’s stock.

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Adobe Systems Company Profile

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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