Adobe Systems (NASDAQ:ADBE) had its target price upped by analysts at Jefferies Group to $205.00 in a report released on Friday, The Fly reports. The brokerage currently has a “buy” rating on the software company’s stock. Jefferies Group’s target price indicates a potential upside of 15.49% from the company’s current price.
Other equities analysts have also issued research reports about the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $170.00 price target (up previously from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Barclays reaffirmed a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a research report on Tuesday, September 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 price target on shares of Adobe Systems in a research report on Friday, September 1st. Finally, Moffett Nathanson started coverage on Adobe Systems in a research report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $183.35.
Adobe Systems (NASDAQ:ADBE) traded up $2.51 on Friday, hitting $177.51. The stock had a trading volume of 9,190,087 shares, compared to its average volume of 2,489,117. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $87,167.11, a price-to-earnings ratio of 53.26, a PEG ratio of 2.23 and a beta of 1.05. Adobe Systems has a 12-month low of $101.91 and a 12-month high of $186.27.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,849 shares of company stock valued at $2,554,091. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in shares of Adobe Systems by 10.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,451,549 shares of the software company’s stock valued at $216,542,000 after acquiring an additional 138,133 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Adobe Systems during the 3rd quarter valued at approximately $216,000. GSA Capital Partners LLP bought a new position in shares of Adobe Systems during the 3rd quarter valued at approximately $2,890,000. Cypress Capital Group grew its stake in shares of Adobe Systems by 26.6% during the 3rd quarter. Cypress Capital Group now owns 10,907 shares of the software company’s stock valued at $1,627,000 after acquiring an additional 2,290 shares during the period. Finally, Fieldpoint Private Securities LLC grew its stake in shares of Adobe Systems by 24.0% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 8,007 shares of the software company’s stock valued at $1,194,000 after acquiring an additional 1,552 shares during the period. Institutional investors own 87.45% of the company’s stock.
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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.
