Adobe Systems Incorporated (ADBE) Lifted to “Buy” at BTIG Research


Adobe Systems logoAdobe Systems Incorporated (NASDAQ:ADBE) Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $201.30 on Monday. The stock has a market cap of $99,230.00, a PE ratio of 59.38, a PEG ratio of 2.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a one year low of $112.26 and a one year high of $204.45.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 25.00% and a return on equity of 24.19%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. sell-side analysts expect that Adobe Systems Incorporated will post 5.05 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of ADBE. Caldwell & Orkin Inc. bought a new position in shares of Adobe Systems in the 2nd quarter valued at about $410,000. BlackRock Inc. boosted its stake in shares of Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after purchasing an additional 2,621,275 shares during the last quarter. Amalgamated Bank boosted its stake in Adobe Systems by 56.9% during the 2nd quarter. Amalgamated Bank now owns 58,250 shares of the software company’s stock worth $8,239,000 after acquiring an additional 21,129 shares during the last quarter. BT Investment Management Ltd bought a new position in Adobe Systems during the 2nd quarter worth approximately $3,996,000. Finally, Profund Advisors LLC boosted its stake in Adobe Systems by 7.6% during the 2nd quarter. Profund Advisors LLC now owns 43,120 shares of the software company’s stock worth $6,099,000 after acquiring an additional 3,037 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors.

ADBE has been the subject of a number of analyst reports. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Barclays raised their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective for the company. in a report on Thursday, October 19th. Cowen reaffirmed a “buy” rating and set a $200.00 price objective on shares of Adobe Systems in a report on Monday, December 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a report on Thursday, October 19th. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $196.65.

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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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