Adobe Systems Incorporated (NASDAQ:ADBE) has been given an average recommendation of “Buy” by the thirty-five brokerages that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $197.88.

Several equities research analysts recently commented on the company. Barclays raised their target price on Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Vetr cut Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 target price for the company. in a research note on Thursday, October 19th. Cowen reaffirmed a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a research note on Monday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 target price (up previously from $153.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $162.00 target price (up previously from $160.00) on shares of Adobe Systems in a research note on Friday, December 15th.

In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the transaction, the executive vice president now owns 50,497 shares in the company, valued at $8,761,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Banse bought 1,125 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the acquisition, the director now directly owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. In the last quarter, insiders sold 351,199 shares of company stock worth $67,326,422. Corporate insiders own 0.38% of the company’s stock.

Several hedge funds have recently bought and sold shares of ADBE. Cerebellum GP LLC bought a new position in shares of Adobe Systems in the fourth quarter valued at approximately $118,000. Community Bank N.A. bought a new position in shares of Adobe Systems in the fourth quarter valued at approximately $122,000. Parkside Financial Bank & Trust lifted its holdings in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. lifted its holdings in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares in the last quarter. Finally, CWH Capital Management Inc. bought a new position in shares of Adobe Systems in the second quarter valued at approximately $141,000. Institutional investors own 87.19% of the company’s stock.

Shares of Adobe Systems (NASDAQ ADBE) traded down $5.27 during mid-day trading on Friday, hitting $179.89. The stock had a trading volume of 2,149,924 shares, compared to its average volume of 2,725,675. The firm has a market capitalization of $88,510.00, a PE ratio of 53.52, a price-to-earnings-growth ratio of 2.35 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. Adobe Systems has a 12 month low of $115.03 and a 12 month high of $204.45.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. equities analysts forecast that Adobe Systems will post 5.12 earnings per share for the current year.

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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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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