Adobe Systems Incorporated (NASDAQ:ADBE)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a report released on Wednesday. They currently have a $163.00 target price on the software company’s stock. Stifel Nicolaus’ price target points to a potential upside of 8.70% from the company’s previous close.

Other research analysts have also issued reports about the company. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $170.00 target price (up from $165.00) on shares of Adobe Systems in a report on Wednesday. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the stock. in a report on Thursday, May 25th. Barclays PLC lifted their target price on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Finally, Piper Jaffray Companies lifted their target price on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and an average target price of $157.28.

Shares of Adobe Systems (ADBE) opened at 149.30 on Wednesday. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $157.89. The stock has a market capitalization of $73.67 billion, a price-to-earnings ratio of 52.00 and a beta of 1.00. The company has a 50 day moving average of $151.61 and a 200 day moving average of $140.16. Adobe Systems also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 27,240 put options on the company. This is an increase of 752% compared to the average volume of 3,199 put options.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Analysts predict that Adobe Systems will post $4.21 EPS for the current fiscal year.

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In related news, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Insiders sold a total of 64,359 shares of company stock worth $9,449,192 over the last three months. 0.38% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Clean Yield Group bought a new position in Adobe Systems in the 1st quarter worth approximately $100,000. Capital Advisors Ltd. LLC bought a new position in Adobe Systems in the 2nd quarter worth approximately $100,000. CWM LLC increased its position in Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Adobe Systems by 86.2% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the 2nd quarter worth approximately $141,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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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