Adobe Systems Incorporated (NASDAQ:ADBE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Adobe’s fiscal second quarter earnings exceeded the Zacks Consensus Estimate backed by demand for the company’s Creative Cloud software tools. Year to date, the stock has outperformed the industry it belongs to. We remain optimistic about Adobe’s market position, compelling product lines, continued innovation, solid adoption of Creative Cloud and Adobe marketing cloud and strong balance sheet.  Also, its acquisition of TubeMogul will help the company to build its position in the expanding Digital Marketing space. However, end-market recovery appears slow which remains a matter of concern.”

Several other research analysts also recently commented on ADBE. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $175.00 price target on shares of Adobe Systems in a research note on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a research note on Tuesday. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Adobe Systems has a consensus rating of “Buy” and an average price target of $153.88.

Shares of Adobe Systems (NASDAQ:ADBE) opened at 155.34 on Thursday. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $157.89. The company has a market cap of $76.65 billion, a price-to-earnings ratio of 54.11 and a beta of 1.00. The stock’s 50 day moving average is $150.45 and its 200-day moving average is $138.85.

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

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In other Adobe Systems news, EVP Donna Morris sold 5,000 shares of Adobe Systems stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $145.00, for a total transaction of $725,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John E. Warnock sold 32,600 shares of Adobe Systems stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,006 shares of company stock worth $14,566,440. 0.38% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Murphy Capital Management Inc. acquired a new position in shares of Adobe Systems during the 1st quarter valued at about $244,000. BB&T Securities LLC boosted its position in shares of Adobe Systems by 126.8% during the 2nd quarter. BB&T Securities LLC now owns 12,934 shares of the software company’s stock valued at $1,238,000 after acquiring an additional 7,231 shares during the last quarter. Ardevora Asset Management LLP boosted its position in shares of Adobe Systems by 83.8% during the 4th quarter. Ardevora Asset Management LLP now owns 239,542 shares of the software company’s stock valued at $22,503,000 after acquiring an additional 109,200 shares during the last quarter. KSA Capital Management acquired a new position in shares of Adobe Systems during the 3rd quarter valued at about $1,644,000. Finally, Decatur Capital Management Inc. boosted its position in shares of Adobe Systems by 2.8% during the 3rd quarter. Decatur Capital Management Inc. now owns 134,070 shares of the software company’s stock valued at $14,552,000 after acquiring an additional 3,650 shares during the last quarter. 87.53% 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.

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Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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