Adobe Systems (NASDAQ:ADBE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Adobe has been making great efforts toward establishing its presence in cloud-related software areas such as documents and marketing. Adobe Experience Manager, which enables brands to offer a personalized experience, is also witnessing robust growth. Year to date, the stock has outperformed the industry it belongs to. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, solid adoption of Creative Cloud and Adobe marketing cloud.  Also, its acquisition of TubeMogul will help the company to build its position in the expanding Digital Marketing space. However, end-market recovery appears slow which remains a matter of concern. Year to date, the stock has outperformed the industry it belongs to.”

Other equities research analysts have also issued reports about the company. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 target price for the company. in a research report on Monday. Robert W. Baird reaffirmed a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a research report on Friday. Wells Fargo & Company reaffirmed a “hold” rating and set a $145.00 target price (up from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Barclays reaffirmed a “buy” rating and set a $167.00 target price on shares of Adobe Systems in a research report on Friday, September 15th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a report on Tuesday, September 12th. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $186.27.

Shares of Adobe Systems (ADBE) traded down $0.77 during midday trading on Tuesday, reaching $176.74. The company’s stock had a trading volume of 3,435,300 shares, compared to its average volume of 2,493,036. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $87,502.30, a price-to-earnings ratio of 50.14, a PEG ratio of 2.24 and a beta of 1.05. Adobe Systems has a 1-year low of $102.47 and a 1-year high of $186.27.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. equities research analysts anticipate that Adobe Systems will post 4.66 earnings per share for the current year.

In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,849 shares of company stock worth $2,554,091. 0.38% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Bank of Stockton grew its stake in Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after purchasing an additional 20 shares during the last quarter. Bienville Capital Management LLC grew its stake in Adobe Systems by 1.6% during the 2nd quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock valued at $287,000 after purchasing an additional 32 shares during the last quarter. FTB Advisors Inc. grew its stake in Adobe Systems by 1.2% during the 2nd quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock valued at $395,000 after purchasing an additional 33 shares during the last quarter. People s United Financial Inc. grew its stake in Adobe Systems by 0.3% during the 2nd quarter. People s United Financial Inc. now owns 13,776 shares of the software company’s stock valued at $1,948,000 after purchasing an additional 40 shares during the last quarter. Finally, Capital Counsel LLC NY grew its stake in Adobe Systems by 1.0% during the 2nd quarter. Capital Counsel LLC NY now owns 4,273 shares of the software company’s stock valued at $604,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 87.08% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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