Investors Buy Adobe Systems Incorporated (ADBE) on Weakness
Investors purchased shares of Adobe Systems Incorporated (NASDAQ:ADBE) on weakness during trading on Wednesday. $111.96 million flowed into the stock on the tick-up and $66.39 million flowed out of the stock on the tick-down, for a money net flow of $45.57 million into the stock. Of all companies tracked, Adobe Systems had the 12th highest net in-flow for the day. Adobe Systems traded down ($0.65) for the day and closed at $147.95
Several equities analysts recently issued reports on ADBE shares. Vetr cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target on the stock. in a research report on Tuesday, June 20th. Canaccord Genuity reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. BMO Capital Markets reiterated an “outperform” rating and set a $165.00 price target on shares of Adobe Systems in a research report on Thursday, September 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $157.00 price target on shares of Adobe Systems in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $158.16.
The company’s 50 day moving average price is $151.54 and its 200 day moving average price is $142.15. The firm has a market capitalization of $74.06 billion, a price-to-earnings ratio of 47.23 and a beta of 0.98.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. Equities analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current year.
In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of Adobe Systems stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total transaction of $3,629,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,359 shares of company stock valued at $7,868,382. Company insiders own 0.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ADBE. Waldron LP lifted its stake in Adobe Systems by 96.9% during the 1st quarter. Waldron LP now owns 5,487 shares of the software company’s stock valued at $689,000 after acquiring an additional 2,701 shares during the period. Engineers Gate Manager LP acquired a new stake in Adobe Systems during the 1st quarter valued at approximately $4,268,000. First Personal Financial Services lifted its stake in Adobe Systems by 1,200.0% during the 1st quarter. First Personal Financial Services now owns 1,898 shares of the software company’s stock valued at $247,000 after acquiring an additional 1,752 shares during the period. Commerce Bank lifted its stake in Adobe Systems by 1.2% during the 1st quarter. Commerce Bank now owns 292,879 shares of the software company’s stock valued at $38,112,000 after acquiring an additional 3,533 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Adobe Systems by 29.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,768 shares of the software company’s stock valued at $4,785,000 after acquiring an additional 8,265 shares during the period. Institutional investors and hedge funds own 87.43% 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.
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