Adobe Systems (ADBE) Cut to Buy at Vetr

Adobe Systems (NASDAQ:ADBE) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $198.52 target price on the software company’s stock. Vetr‘s price objective would suggest a potential upside of 11.84% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Pivotal Research restated a “hold” rating and set a $162.00 target price (up previously from $160.00) on shares of Adobe Systems in a report on Friday. Jefferies Group increased their target price on shares of Adobe Systems to $205.00 and gave the stock a “buy” rating in a report on Friday. Barclays restated a “buy” rating and set a $167.00 target price on shares of Adobe Systems in a report on Friday, September 15th. Piper Jaffray Companies restated a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a report on Tuesday, September 12th. Finally, Wells Fargo & Company restated a “hold” rating and set a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $185.02.

Adobe Systems (NASDAQ ADBE) opened at $177.51 on Monday. The firm has a market cap of $87,502.30, a P/E ratio of 50.14, a PEG ratio of 2.24 and a beta of 1.05. Adobe Systems has a 1-year low of $101.91 and a 1-year high of $186.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. sell-side analysts expect that Adobe Systems will post 4.66 EPS for the current fiscal year.

In other news, Director John E. Warnock sold 6,800 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,849 shares of company stock valued at $2,554,091. Corporate insiders own 0.38% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ADBE. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems in the second quarter valued at about $100,000. Municipal Employees Retirement System of Michigan raised its position in shares of Adobe Systems by 50.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 24,110 shares of the software company’s stock valued at $3,410,000 after purchasing an additional 8,070 shares during the period. Eastern Bank increased its position in Adobe Systems by 1.2% during the second quarter. Eastern Bank now owns 80,561 shares of the software company’s stock worth $11,394,000 after acquiring an additional 940 shares during the period. Sumitomo Life Insurance Co. increased its position in Adobe Systems by 8.8% during the second quarter. Sumitomo Life Insurance Co. now owns 32,954 shares of the software company’s stock worth $4,661,000 after acquiring an additional 2,653 shares during the period. Finally, IBM Retirement Fund increased its position in Adobe Systems by 122.1% during the second quarter. IBM Retirement Fund now owns 12,087 shares of the software company’s stock worth $1,910,000 after acquiring an additional 6,644 shares during the period. 87.45% of the stock is currently owned by 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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