Adobe Systems’ (ADBE) Hold Rating Reaffirmed at Oppenheimer

Adobe Systems (NASDAQ:ADBE)‘s stock had its “hold” rating reaffirmed by equities researchers at Oppenheimer in a research report issued to clients and investors on Friday.

Other equities analysts have also issued reports about the stock. Robert W. Baird restated a “buy” rating and set a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Jefferies Group initiated coverage on shares of Adobe Systems in a research report on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. Piper Jaffray Companies restated a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Moffett Nathanson initiated coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They set a “buy” rating and a $195.00 target price on the stock. Finally, Barclays restated a “buy” rating and set a $167.00 target price on shares of Adobe Systems in a research report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $183.35.

Adobe Systems (NASDAQ:ADBE) traded down $1.83 during mid-day trading on Friday, reaching $175.00. 4,716,600 shares of the company’s stock were exchanged, compared to its average volume of 2,461,314. 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 has a 12 month low of $101.91 and a 12 month high of $186.27. The firm has a market capitalization of $87,167.11, a PE ratio of 53.26, a P/E/G ratio of 2.23 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. equities analysts predict that Adobe Systems will post 3.46 EPS for the current year.

In related news, Director John E. Warnock sold 6,800 shares of the business’s 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 completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the completion of the transaction, the executive vice president now directly owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,896 shares of company stock valued at $2,215,246 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after buying an additional 1,651,762 shares during the period. BlackRock Inc. grew its holdings in Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after buying an additional 2,621,275 shares during the period. Vanguard Group Inc. grew its holdings in Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after buying an additional 943,487 shares during the period. Janus Henderson Group PLC grew its holdings in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after buying an additional 9,957,241 shares during the period. Finally, Polen Capital Management LLC grew its holdings in Adobe Systems by 3.7% in the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock valued at $938,166,000 after buying an additional 226,286 shares during the period. 87.45% of the stock is 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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