Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating reissued by stock analysts at Bank of America in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $220.00 price target on the software company’s stock, up from their prior price target of $213.00. Bank of America’s target price would suggest a potential upside of 27.51% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $186.00 target price (up from $155.00) on shares of Adobe Systems in a research report on Wednesday. Credit Suisse Group restated a “buy” rating and issued a $190.00 target price on shares of Adobe Systems in a research report on Wednesday. Cowen restated a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research report on Monday. J P Morgan Chase & Co cut shares of Adobe Systems from an “overweight” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research report on Tuesday. Finally, BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $179.26.

Shares of Adobe Systems (NASDAQ:ADBE) traded down $1.77 during trading hours on Wednesday, hitting $172.54. 3,924,100 shares of the stock traded hands, compared to its average volume of 2,442,964. The firm has a market cap of $85,924.89, a PE ratio of 52.50, a PEG ratio of 2.20 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 has a one year low of $101.91 and a one year high of $186.27.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during 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%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. sell-side analysts forecast that Adobe Systems will post 3.46 EPS for the current fiscal year.

In related news, Director John E. Warnock sold 6,800 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the transaction, the executive vice president now directly owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,896 shares of company stock worth $2,215,246. Insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 1ST Source Bank boosted its stake in Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after acquiring an additional 6 shares in the last quarter. Bank of Stockton boosted its stake in Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after acquiring an additional 20 shares in the last quarter. Bienville Capital Management LLC boosted its stake in Adobe Systems by 1.6% during the second quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock worth $287,000 after acquiring an additional 32 shares in the last quarter. FTB Advisors Inc. boosted its stake in Adobe Systems by 1.2% during the second quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock worth $395,000 after acquiring an additional 33 shares in the last quarter. Finally, People s United Financial Inc. boosted its stake in Adobe Systems by 0.3% during the second quarter. People s United Financial Inc. now owns 13,776 shares of the software company’s stock worth $1,948,000 after acquiring an additional 40 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

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