Adobe Systems Incorporated (ADBE) Lifted to Buy at Vetr Inc.

Adobe Systems Incorporated (NASDAQ:ADBE) was upgraded by Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $114.49 price objective on the software company’s stock. Vetr‘s price target would indicate a potential upside of 9.94% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Cowen and Company reissued an “outperform” rating and issued a $120.00 price target on shares of Adobe Systems in a report on Wednesday, December 21st. Zacks Investment Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating in a report on Wednesday, December 21st. Dougherty & Co reissued a “buy” rating and issued a $130.00 price target (up previously from $122.00) on shares of Adobe Systems in a report on Saturday, December 17th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $124.00 target price on shares of Adobe Systems in a report on Friday, December 16th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $124.00 target price on shares of Adobe Systems in a report on Friday, December 16th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $115.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) traded up 0.64% during trading on Wednesday, reaching $104.14. The company had a trading volume of 1,712,583 shares. Adobe Systems has a 12 month low of $71.27 and a 12 month high of $111.09. The company has a market capitalization of $51.62 billion, a P/E ratio of 44.89 and a beta of 1.07. The firm’s 50 day moving average is $104.13 and its 200-day moving average is $102.55.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 15th. The software company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business earned $1.61 billion during the quarter. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts expect that Adobe Systems will post $3.82 earnings per share for the current year.

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In related news, EVP Michael A. Dillon sold 13,331 shares of the stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $109.64, for a total value of $1,461,610.84. Following the completion of the transaction, the executive vice president now owns 30,993 shares of the company’s stock, valued at approximately $3,398,072.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John E. Warnock sold 6,000 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $105.41, for a total transaction of $632,460.00. Following the completion of the transaction, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,695,836.08. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ADBE. Smithfield Trust Co. increased its position in Adobe Systems by 465.6% in the third quarter. Smithfield Trust Co. now owns 1,018 shares of the software company’s stock valued at $110,000 after buying an additional 838 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in Adobe Systems by 11.1% in the third quarter. TCI Wealth Advisors Inc. now owns 1,104 shares of the software company’s stock valued at $120,000 after buying an additional 110 shares during the last quarter. Clean Yield Group increased its position in Adobe Systems by 32.9% in the third quarter. Clean Yield Group now owns 1,130 shares of the software company’s stock valued at $123,000 after buying an additional 280 shares during the last quarter. WFG Advisors LP increased its position in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its position in Adobe Systems by 69.8% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 1,204 shares of the software company’s stock valued at $131,000 after buying an additional 495 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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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