Adobe Systems’ (ADBE) Positive Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their positive rating on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a report published on Wednesday. They currently have a $170.00 price objective on the software company’s stock, up from their prior price objective of $160.00.

A number of other brokerages have also commented on ADBE. BMO Capital Markets reiterated an outperform rating on shares of Adobe Systems in a research note on Tuesday, September 12th. Jefferies Group LLC reiterated a buy rating and issued a $175.00 price target on shares of Adobe Systems in a research note on Tuesday, September 12th. Wells Fargo & Company reiterated a hold rating and issued a $145.00 price target (up from $127.50) on shares of Adobe Systems in a research note on Wednesday. Piper Jaffray Companies reiterated a buy rating and issued a $180.00 price target on shares of Adobe Systems in a research note on Tuesday, September 12th. Finally, Zacks Investment Research lowered shares of Adobe Systems from a hold rating to a sell rating in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $157.28.

Adobe Systems (NASDAQ ADBE) traded down 0.07% on Wednesday, reaching $149.85. 2,490,578 shares of the company traded hands. The stock’s 50 day moving average price is $151.61 and its 200 day moving average price is $140.16. The company has a market capitalization of $73.94 billion, a PE ratio of 52.19 and a beta of 1.00. Adobe Systems has a one year low of $98.00 and a one year high of $157.89. Adobe Systems also was the recipient of unusually large options trading activity on Monday. Investors bought 14,327 call options on the company. This represents an increase of 408% compared to the typical volume of 2,821 call options.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.80%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts predict that Adobe Systems will post $4.06 EPS for the current fiscal year.

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In related news, EVP Abhay Parasnis sold 12,500 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. Insiders sold 69,359 shares of company stock worth $10,174,192 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Waldron LP increased its position in Adobe Systems by 96.9% during the first 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 last quarter. Genesee Valley Trust Co. increased its position in Adobe Systems by 0.3% during the first quarter. Genesee Valley Trust Co. now owns 14,340 shares of the software company’s stock valued at $1,866,000 after acquiring an additional 41 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Adobe Systems by 23.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 172,031 shares of the software company’s stock valued at $22,497,000 after acquiring an additional 32,410 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Adobe Systems by 31.1% during the first quarter. Daiwa Securities Group Inc. now owns 16,850 shares of the software company’s stock valued at $2,193,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in Adobe Systems by 3.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,095 shares of the software company’s stock valued at $403,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 87.40% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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