Adobe Systems Incorporated (ADBE) Upgraded at Vetr Inc.

Vetr upgraded shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a sell rating to a hold rating in a research report report published on Thursday morning. They currently have $172.83 target price on the software company’s stock.

Other equities analysts have also recently issued reports about the company. Barclays PLC reissued a buy rating and set a $167.00 target price on shares of Adobe Systems in a research note on Friday, September 15th. Piper Jaffray Companies reissued a buy rating and set a $180.00 target price on shares of Adobe Systems in a research note on Tuesday, September 12th. Jefferies Group LLC reissued a buy rating and set a $175.00 target price on shares of Adobe Systems in a research note on Tuesday, September 12th. Moffett Nathanson started coverage on Adobe Systems in a research note on Wednesday, September 6th. They set a buy rating and a $195.00 target price on the stock. Finally, Robert W. Baird reissued a buy rating and set a $160.00 target price on shares of Adobe Systems in a research note on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $170.06.

Adobe Systems (NASDAQ ADBE) opened at $182.30 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems has a 12 month low of $98.00 and a 12 month high of $182.74. The stock has a market capitalization of $89,863.51, a P/E ratio of 54.91, a PEG ratio of 3.10 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. sell-side analysts anticipate that Adobe Systems will post 3.46 EPS for the current fiscal year.

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In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the 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 completion of the transaction, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. In the last three months, insiders sold 14,849 shares of company stock worth $2,452,281. 0.38% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. 1ST Source Bank increased its position in Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC increased its position in Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont increased its position in Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton increased its position in Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors.

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.

To view Vetr’s full report, visit Vetr’s official website.

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