Vetr downgraded shares of Adobe Systems (NASDAQ:ADBE) from a buy rating to a hold rating in a research report released on Monday. They currently have $199.00 target price on the software company’s stock.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $163.00 price objective on shares of Adobe Systems in a report on Wednesday, September 20th. Piper Jaffray Companies reissued a buy rating and issued a $180.00 target price on shares of Adobe Systems in a research report on Wednesday, September 20th. Jefferies Group reissued a buy rating and issued a $180.00 target price (up previously from $175.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Canaccord Genuity reissued a buy rating and issued a $170.00 target price (up previously from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Finally, Royal Bank of Canada reissued a buy rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $187.00.

Shares of Adobe Systems (ADBE) traded down $2.78 during mid-day trading on Monday, reaching $192.27. 3,110,000 shares of the company’s stock were exchanged, compared to its average volume of 3,000,000. Adobe Systems has a 52-week low of $107.06 and a 52-week high of $198.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $94,780.00, a price-to-earnings ratio of 56.72, a P/E/G ratio of 2.50 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. research analysts predict that Adobe Systems will post 4.58 EPS for the current fiscal year.

In other news, Director Amy Banse bought 1,125 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was purchased at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the transaction, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the completion of the transaction, the director now owns 12,375 shares of the company’s stock, valued at approximately $2,170,451.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,772 shares of company stock valued at $15,798,527. Insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its position in Adobe Systems by 170.3% in 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. BB&T Investment Services Inc. lifted its stake in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $141,000. Acrospire Investment Management LLC lifted its stake in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $141,000. Hedge funds and other institutional investors own 87.08% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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