Adobe Systems (ADBE) Rating Reiterated by KeyCorp
KeyCorp reaffirmed their overweight rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note published on Tuesday, Marketbeat Ratings reports. The firm currently has a $225.00 price target on the software company’s stock, up from their prior price target of $220.00.
Several other research analysts have also commented on the company. Citigroup raised their price target on Adobe Systems from $163.00 to $177.00 and gave the stock a buy rating in a research report on Thursday, October 19th. Vetr upgraded Adobe Systems from a buy rating to a strong-buy rating and set a $198.52 price target for the company in a research report on Wednesday, November 29th. JPMorgan Chase & Co. restated a buy rating and set a $185.00 price target on shares of Adobe Systems in a research report on Thursday, October 19th. Pivotal Research upgraded Adobe Systems from a sell rating to a hold rating and raised their price target for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. Finally, BMO Capital Markets restated an outperform rating and set a $187.00 price target (up from $165.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $195.94.
Shares of Adobe Systems (ADBE) traded up $2.25 during trading on Tuesday, reaching $200.09. The company had a trading volume of 3,980,900 shares, compared to its average volume of 2,607,547. The stock has a market capitalization of $97,720.00, a price-to-earnings ratio of 59.02, a price-to-earnings-growth ratio of 2.54 and a beta of 1.05. Adobe Systems has a 52 week low of $111.34 and a 52 week high of $204.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.
In other Adobe Systems news, Director Amy Banse purchased 1,125 shares of the business’s stock in a transaction on Monday, December 18th. The shares were bought at an average cost of $177.35 per share, for a total transaction of $199,518.75. Following the completion of the purchase, the director now directly owns 31,453 shares in the company, valued at $5,578,189.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the sale, the executive vice president now owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,782 shares of company stock worth $14,234,177. Insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ADBE. FTB Advisors Inc. grew its holdings in shares of 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 buying an additional 33 shares during the last quarter. People s United Financial Inc. grew its holdings in shares of 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 buying an additional 40 shares during the last quarter. Associated Banc Corp grew its holdings in shares of Adobe Systems by 1.5% during the second quarter. Associated Banc Corp now owns 4,165 shares of the software company’s stock worth $589,000 after buying an additional 60 shares during the last quarter. WFG Advisors LP grew its holdings in shares of Adobe Systems by 5.9% during the second quarter. WFG Advisors LP now owns 1,338 shares of the software company’s stock worth $189,000 after buying an additional 75 shares during the last quarter. Finally, Frontier Wealth Management LLC grew its holdings in shares of Adobe Systems by 4.2% during the second quarter. Frontier Wealth Management LLC now owns 2,476 shares of the software company’s stock worth $350,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://theolympiareport.com/2018/01/24/adobe-systems-adbe-rating-reiterated-by-keycorp.html.
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.
Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.