Adobe Systems Incorporated (NASDAQ:ADBE) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Several other analysts have also weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a report on Monday, July 31st. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price for the company in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. KeyCorp restated a “buy” rating on shares of Adobe Systems in a research note on Sunday, June 25th. Finally, Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems has a consensus rating of “Buy” and a consensus target price of $154.20.

Adobe Systems (NASDAQ ADBE) traded down 0.18% during midday trading on Wednesday, hitting $147.97. The company had a trading volume of 1,699,265 shares. The firm has a market cap of $73.01 billion, a price-to-earnings ratio of 51.54 and a beta of 1.00. The stock has a 50 day moving average of $146.59 and a 200 day moving average of $134.36. Adobe Systems has a 52-week low of $97.87 and a 52-week high of $151.99.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. On average, analysts anticipate that Adobe Systems will post $4.06 EPS for the current year.

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In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Insiders sold 102,239 shares of company stock worth $14,877,475 in the last ninety days. 0.38% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gemmer Asset Management LLC boosted its position in Adobe Systems by 16.1% in the first quarter. Gemmer Asset Management LLC now owns 16,329 shares of the software company’s stock valued at $2,125,000 after buying an additional 2,267 shares in the last quarter. Johanson Financial Advisors Inc. bought a new position in Adobe Systems during the first quarter valued at about $305,000. Columbus Circle Investors bought a new position in Adobe Systems during the first quarter valued at about $305,000. Barometer Capital Management Inc. boosted its position in Adobe Systems by 866.7% in the first quarter. Barometer Capital Management Inc. now owns 58,000 shares of the software company’s stock valued at $7,548,000 after buying an additional 52,000 shares in the last quarter. Finally, Boston Advisors LLC bought a new position in Adobe Systems during the first quarter valued at about $1,002,000. 87.64% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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