Adobe Systems Incorporated (ADBE) Upgraded to Hold by Vetr Inc.
Vetr upgraded shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a sell rating to a hold rating in a research report released on Thursday morning. They currently have $172.83 target price on the software company’s stock.
ADBE has been the subject of several other reports. Citigroup Inc lifted their price objective on Adobe Systems from $163.00 to $177.00 and gave the stock a buy rating in a research report on Thursday, October 19th. Credit Suisse Group reiterated a positive rating and issued a $170.00 price target (up from $160.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Robert W. Baird reiterated a buy rating and issued a $160.00 price target on shares of Adobe Systems in a report on Friday, September 1st. J P Morgan Chase & Co reiterated a buy rating and issued a $185.00 price target on shares of Adobe Systems in a report on Thursday, October 19th. Finally, Pivotal Research upgraded Adobe Systems from a sell rating to a hold rating and boosted their price target for the company from $118.00 to $160.00 in a report on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $170.06.
Shares of Adobe Systems (NASDAQ ADBE) traded up $6.05 during trading on Thursday, hitting $182.30. The company had a trading volume of 2,232,061 shares, compared to its average volume of 3,230,000. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems has a 1 year low of $98.00 and a 1 year high of $182.74. The firm has a market cap of $89.86 billion, a P/E ratio of 54.50, a P/E/G ratio of 3.07 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. equities research analysts expect that Adobe Systems will post 3.46 earnings per share for the current fiscal year.
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In other news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the sale, the executive vice president now owns 56,356 shares in the company, valued at approximately $8,784,773.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,849 shares of company stock valued at $2,452,281. 0.38% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of ADBE. Capital Advisors Ltd. LLC acquired a new stake in shares of Adobe Systems in the 2nd quarter valued at about $100,000. CWM LLC raised its stake in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Adobe Systems by 170.3% in the 3rd 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. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems in the 2nd quarter valued at about $141,000. Finally, Acrospire Investment Management LLC raised 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 valued at $141,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.64% 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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