Adobe Systems Incorporated (NASDAQ:ADBE) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $204.87 and last traded at $204.55, with a volume of 1757341 shares traded. The stock had previously closed at $201.56.
Several research analysts have recently commented on the company. KeyCorp restated an “overweight” rating and set a $225.00 price target (up from $220.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective on the stock in a research note on Wednesday, November 29th. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Guggenheim reiterated a “buy” rating and issued a $230.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Finally, BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $198.15.
The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $99,520.00, a P/E ratio of 59.63, a price-to-earnings-growth ratio of 2.46 and a beta of 1.18.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the firm earned $0.90 earnings per share. Adobe Systems’s quarterly revenue was up 24.8% on a year-over-year basis. equities research analysts forecast that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.
In other news, CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael A. Dillon sold 18,079 shares of Adobe Systems stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $194.26, for a total value of $3,512,026.54. The disclosure for this sale can be found here. Insiders have sold 351,199 shares of company stock worth $67,326,422 in the last quarter. Insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Polen Capital Management LLC increased its position in shares of Adobe Systems by 1.2% during the fourth quarter. Polen Capital Management LLC now owns 6,362,305 shares of the software company’s stock worth $1,114,930,000 after purchasing an additional 73,489 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Adobe Systems by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock worth $826,991,000 after buying an additional 488,904 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adobe Systems by 2.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,368,796 shares of the software company’s stock worth $940,828,000 after buying an additional 128,148 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Adobe Systems by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 5,197,567 shares of the software company’s stock worth $908,904,000 after buying an additional 165,632 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Adobe Systems by 4.8% during the fourth quarter. Clearbridge Investments LLC now owns 3,996,110 shares of the software company’s stock worth $700,278,000 after buying an additional 184,744 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.
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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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