Adobe Systems Inc. (NASDAQ:ADBE)‘s stock had its “buy” rating reissued by equities research analysts at Deutsche Bank AG in a research report issued on Wednesday. They currently have a $120.00 target price on the software company’s stock, down from their previous target price of $125.00. Deutsche Bank AG’s target price points to a potential upside of 19.26% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays PLC boosted their price target on shares of Adobe Systems to $75.00 in a research report on Tuesday, June 7th. Citigroup Inc. dropped their price target on shares of Adobe Systems from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price target on shares of Adobe Systems in a research report on Wednesday, June 22nd. Rosenblatt Securities boosted their price target on shares of Adobe Systems from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 22nd. Finally, Vetr cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 price target on the stock. in a research report on Tuesday, May 24th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Adobe Systems currently has an average rating of “Buy” and an average price target of $108.30.

Shares of Adobe Systems (NASDAQ:ADBE) traded up 7.12% on Wednesday, reaching $107.78. The company had a trading volume of 8,695,252 shares. The stock has a market capitalization of $53.71 billion, a PE ratio of 60.89 and a beta of 1.24. The company has a 50 day moving average price of $100.45 and a 200 day moving average price of $96.50. Adobe Systems has a 52-week low of $71.27 and a 52-week high of $108.22.

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Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. The firm had revenue of $1.46 billion for the quarter. During the same quarter last year, the firm posted $0.54 earnings per share. Adobe Systems’s revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Systems will post $2.87 earnings per share for the current year.

In related news, CMO Ann Lewnes sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $92.39, for a total transaction of $369,560.00. Following the completion of the transaction, the chief marketing officer now owns 46,828 shares in the company, valued at $4,326,438.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bradley Rencher sold 37,562 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $95.46, for a total transaction of $3,585,668.52. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ADBE. Brown Advisory Inc. raised its position in shares of Adobe Systems by 16,033.1% in the second quarter. Brown Advisory Inc. now owns 3,828,878 shares of the software company’s stock worth $366,768,000 after buying an additional 3,805,145 shares during the last quarter. FMR LLC raised its position in shares of Adobe Systems by 6.6% in the second quarter. FMR LLC now owns 36,342,447 shares of the software company’s stock worth $3,481,242,000 after buying an additional 2,249,163 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Adobe Systems by 19.9% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company’s stock worth $1,279,159,000 after buying an additional 2,215,100 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Adobe Systems by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 17,555,131 shares of the software company’s stock worth $1,646,671,000 after buying an additional 1,764,349 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Adobe Systems by 46.2% in the first quarter. Wellington Management Group LLP now owns 5,463,118 shares of the software company’s stock worth $512,441,000 after buying an additional 1,726,306 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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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