Adobe Systems (ADBE) Trading Down 0%

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) fell 0% during mid-day trading on Tuesday . The stock traded as low as $168.43 and last traded at $168.49. 2,630,895 shares were traded during mid-day trading, an increase of 9% from the average session volume of 2,421,253 shares. The stock had previously closed at $168.44.

Several research firms have recently issued reports on ADBE. KeyCorp reissued an “overweight” rating and issued a $216.00 price target (up previously from $178.00) on shares of Adobe Systems in a research report on Wednesday, November 22nd. UBS started coverage on shares of Adobe Systems in a report on Thursday, November 9th. They set a “buy” rating and a $217.00 target price on the stock. Zacks Investment Research lowered shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Stifel Nicolaus upped their target price on shares of Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price objective for the company in a research note on Monday, November 13th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $176.50.

The stock has a market cap of $82,587.66, a PE ratio of 50.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. 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 announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the 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 quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.

In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, October 11th. The stock was 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. Insiders have sold 14,849 shares of company stock valued at $2,519,679 over the last ninety days. 0.38% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after purchasing an additional 1,651,762 shares during the period. BlackRock Inc. lifted its stake in Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares during the period. Vanguard Group Inc. lifted its stake in Adobe Systems by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after acquiring an additional 943,487 shares during the period. Janus Henderson Group PLC lifted its stake in Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares during the period. Finally, Polen Capital Management LLC lifted its stake in Adobe Systems by 3.7% in the third quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock worth $938,166,000 after acquiring an additional 226,286 shares during the period. 87.45% of the stock is owned by institutional investors.

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About Adobe Systems

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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