UBS AG assumed coverage on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a report issued on Thursday, 99wallstreet.com reports. The firm issued a buy rating and a $217.00 price target on the software company’s stock.
ADBE has been the topic of a number of other reports. Citigroup Inc. raised their price target on Adobe Systems from $163.00 to $177.00 and gave the company a buy rating in a research note on Thursday, October 19th. Credit Suisse Group restated a positive rating and issued a $170.00 price target (up from $160.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Robert W. Baird restated a buy rating and issued a $160.00 price target on shares of Adobe Systems in a research note on Friday, September 1st. J P Morgan Chase & Co restated a buy rating and issued a $185.00 price target on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Pivotal Research upgraded Adobe Systems from a sell rating to a hold rating and lifted their target price for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Adobe Systems currently has a consensus rating of Buy and a consensus price target of $174.11.
Shares of Adobe Systems (NASDAQ:ADBE) opened at $181.72 on Thursday. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $184.44. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $89,580.00, a price-to-earnings ratio of 54.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $0.75 earnings per share. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. equities research analysts predict that Adobe Systems will post 3.46 EPS for the current year.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,519,679 in the last three months. Corporate insiders own 0.38% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC acquired a new position in shares of Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC raised its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after purchasing an additional 79 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the last quarter. Exane Derivatives raised its position in shares of Adobe Systems by 55.0% during the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after purchasing an additional 340 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems during the 2nd quarter worth approximately $141,000. Hedge funds and other institutional investors own 87.45% 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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