Adobe Systems’ (ADBE) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Adobe Systems (NASDAQ:ADBE) in a report published on Wednesday. They currently have a $186.00 price target on the software company’s stock, up from their prior price target of $155.00.

A number of other analysts also recently commented on the stock. Argus boosted their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a buy rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Adobe Systems from a strong-buy rating to a hold rating in a report on Tuesday, November 21st. Pivotal Research upgraded shares of Adobe Systems from a sell rating to a hold rating and boosted their target price for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr downgraded shares of Adobe Systems from a hold rating to a sell rating and set a $150.30 target price on the stock. in a report on Thursday, August 31st. Finally, Moffett Nathanson began coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They issued a buy rating and a $195.00 target price on the stock. 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 company’s stock. Adobe Systems presently has an average rating of Buy and an average price target of $183.35.

Adobe Systems (ADBE) traded up $2.51 during mid-day trading on Wednesday, hitting $177.51. 8,845,867 shares of the company’s stock were exchanged, compared to its average volume of 2,660,000. Adobe Systems has a one year low of $101.91 and a one year high of $186.27. The company has a market cap of $88,760.00, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm earned $0.90 EPS. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. sell-side analysts anticipate that Adobe Systems will post 4.66 EPS for the current year.

In related news, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now directly owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,849 shares of company stock worth $2,554,091. 0.38% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its position in Adobe Systems by 10.5% during the third quarter. Parametric Portfolio Associates LLC now owns 1,451,549 shares of the software company’s stock valued at $216,542,000 after purchasing an additional 138,133 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Adobe Systems during the third quarter valued at approximately $216,000. GSA Capital Partners LLP purchased a new position in Adobe Systems during the third quarter valued at approximately $2,890,000. Cypress Capital Group grew its position in Adobe Systems by 26.6% during the third quarter. Cypress Capital Group now owns 10,907 shares of the software company’s stock valued at $1,627,000 after purchasing an additional 2,290 shares in the last quarter. Finally, Fieldpoint Private Securities LLC grew its position in Adobe Systems by 24.0% in the third quarter. Fieldpoint Private Securities LLC now owns 8,007 shares of the software company’s stock worth $1,194,000 after acquiring an additional 1,552 shares in the last quarter. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

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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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