Stephens Reiterates “Buy” Rating for Adobe Systems (ADBE)

Adobe Systems (NASDAQ:ADBE)‘s stock had its “buy” rating reaffirmed by equities researchers at Stephens in a report released on Wednesday. They presently have a $210.00 target price on the software company’s stock. Stephens’ price target would suggest a potential upside of 16.00% from the company’s previous close.

The analysts wrote, “APDN and Colorcon have entered into a technology license memorandum of understanding that will combine DNA tagging with film coating for the pharmaceutical and nutraceutical industry.””

A number of other research firms have also recently commented on ADBE. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Robert W. Baird reissued a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a research note on Friday, December 15th. Vetr cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 target price for the company. in a research note on Monday, December 18th. Oppenheimer reissued a “hold” rating on shares of Adobe Systems in a research note on Friday, December 15th. Finally, Pivotal Research reissued a “hold” rating and set a $162.00 target price (up previously from $160.00) on shares of Adobe Systems in a research note on Friday, December 15th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $186.99.

Shares of Adobe Systems (ADBE) traded up $3.34 during trading on Wednesday, hitting $181.04. 2,537,528 shares of the company’s stock were exchanged, compared to its average volume of 2,121,300. The firm has a market capitalization of $89,260.00, a P/E ratio of 53.40, a P/E/G ratio of 2.25 and a beta of 1.05. Adobe Systems has a 1-year low of $102.81 and a 1-year high of $186.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. sell-side analysts expect that Adobe Systems will post 4.58 earnings per share for the current fiscal year.

In other news, Director Amy Banse purchased 1,125 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average price of $177.35 per share, with a total value of $199,518.75. Following the purchase, the director now directly owns 31,453 shares in the company, valued at approximately $5,578,189.55. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,449 shares of company stock valued at $12,126,521. 0.38% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Bienville Capital Management LLC lifted its holdings in shares of Adobe Systems by 1.6% in the 2nd 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 during the last quarter. FTB Advisors Inc. lifted its holdings in Adobe Systems by 1.2% during the 2nd quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock worth $395,000 after buying an additional 33 shares in the last quarter. People s United Financial Inc. lifted its holdings in Adobe Systems by 0.3% during the 2nd quarter. People s United Financial Inc. now owns 13,776 shares of the software company’s stock worth $1,948,000 after buying an additional 40 shares in the last quarter. Capital Counsel LLC NY lifted its holdings in Adobe Systems by 1.0% during the 2nd quarter. Capital Counsel LLC NY now owns 4,273 shares of the software company’s stock worth $604,000 after buying an additional 43 shares in the last quarter. Finally, Progressive Investment Management Corp lifted its holdings in Adobe Systems by 0.7% during the 2nd quarter. Progressive Investment Management Corp now owns 6,646 shares of the software company’s stock worth $940,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.

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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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