Adobe Systems Inc. (NASDAQ:ADBE) – Equities research analysts at Oppenheimer Holdings raised their Q1 2017 earnings per share estimates for shares of Adobe Systems in a research note issued on Wednesday. Oppenheimer Holdings analyst B. Schwartz now forecasts that the firm will post earnings per share of $0.71 for the quarter, up from their prior forecast of $0.70. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Adobe Systems’ Q3 2017 earnings at $0.81 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.04 EPS and FY2018 earnings at $4.02 EPS.

Adobe Systems (NASDAQ:ADBE) last posted 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. The business earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.12%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share.

A number of other analysts have also recently commented on ADBE. Credit Suisse Group AG upped their price target on Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Adobe Systems in a research note on Wednesday, June 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price target on shares of Adobe Systems in a research note on Wednesday, June 22nd. Piper Jaffray Cos. began coverage on shares of Adobe Systems in a research note on Monday, July 25th. They set an “overweight” rating and a $125.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $112.00 price target on shares of Adobe Systems in a research note on Monday, June 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and a consensus price target of $109.96.

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Adobe Systems (NASDAQ:ADBE) traded up 0.19% during mid-day trading on Thursday, hitting $107.98. 2,506,553 shares of the company traded hands. The company has a market capitalization of $53.81 billion, a price-to-earnings ratio of 61.01 and a beta of 1.24. Adobe Systems has a one year low of $71.27 and a one year high of $108.50. The company’s 50-day moving average price is $100.78 and its 200 day moving average price is $96.58.

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

Large investors have recently made changes to their positions in the company. WFG Advisors LP increased its stake in shares of Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the period. Advisory Services Network LLC increased its stake in shares of Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock valued at $118,000 after buying an additional 147 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock valued at $128,000 after buying an additional 935 shares during the period. NEXT Financial Group Inc increased its stake in shares of Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock valued at $137,000 after buying an additional 523 shares during the period. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Adobe Systems during the second quarter valued at about $142,000. Institutional investors and hedge funds 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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