Adobe Systems Incorporated (ADBE) Earns Buy Rating from Analysts at UBS AG

UBS AG initiated coverage on shares of Adobe Systems Incorporated (NASDAQ:ADBE) in a research note released on Thursday, 99wallstreet.com reports. The firm issued a buy rating and a $217.00 price target on the software company’s stock.

ADBE has been the topic of a number of other research reports. Zacks Investment Research cut shares of Adobe Systems from a hold rating to a sell rating in a research note on Thursday, September 14th. Vetr cut shares of Adobe Systems from a hold rating to a sell rating and set a $150.30 target price on the stock. in a research note on Thursday, August 31st. Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the company a buy rating in a research note on Friday, October 6th. Royal Bank Of Canada restated a buy rating and set a $157.00 target price on shares of Adobe Systems in a research note on Monday, July 31st. Finally, Bank of America Corporation upped their target price on shares of Adobe Systems from $108.00 to $120.00 and gave the company a neutral rating in a research note on Friday, August 25th. Seven research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Adobe Systems has an average rating of Buy and an average price target of $173.56.

Shares of Adobe Systems (NASDAQ ADBE) traded down $0.20 during trading on Thursday, reaching $181.72. 2,082,600 shares of the company were exchanged, compared to its average volume of 3,456,833. The company has a market cap of $89,577.60, a PE ratio of 54.73, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $184.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. research analysts anticipate that Adobe Systems will post 3.46 earnings per share for the current fiscal year.

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In other news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 1ST Source Bank boosted its position in shares of Adobe Systems by 0.3% during the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after acquiring an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Adobe Systems by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after acquiring an additional 13 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Adobe Systems by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after acquiring an additional 13 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after acquiring an additional 16 shares during the last quarter. Finally, Bank of Stockton boosted its position in shares of Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.

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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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