Adobe Systems Incorporated (NASDAQ:ADBE) is making headlines this morning as they have announced a very large update to Photoshop CC 2015. The software now has the ability to connect with the company’s new 3D character creation application Fuse CC.
In addition to this integration with Fuse, the Photoshop software itself takes on a bit of a new look.
“We did a significant amount of work in improving the UI and having more uniformity throughout the UI,” said Stephen Nielson, Adobe’s senior product manager. “We also updated the look and feel of the dialog and gave them common new features so everything is consistent and integrated.”
Adobe seems to have made a major commitment to keeping its applications up-to-date and fresh as often as possible, and this latest move proves that. It will be interesting to see how investors react to this latest news.
The stock closed at $91.46 during the last session. It is down 20.31% since April 28, 2015 and is uptrending. It has outperformed by 21.20% the S&P500.
Out of 14 analysts covering Adobe Systems (NASDAQ:ADBE), 10 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 71% are positive. $122 is the highest target while $82 is the lowest. The $94.10 average target is 2.89% above today’s ($91.46) stock price. Adobe Systems was the topic in 18 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Atlantic Securities upgraded the stock on October 14 to “Overweight” rating. RBC Capital Markets maintained it with “Outperform” rating and $100 target price in an October 2 report. JP Morgan maintained the shares of ADBE in a report on October 7 with “Overweight” rating. S&P Research maintained the firm’s rating on September 21. S&P Research has “Hold” rating and $82 price target. Finally, FBR Capital maintained the stock with “Mkt Perform” rating in an October 7 report.
The institutional sentiment increased to 0.89 in Q2 2015. Its up 0.01, from 0.88 in 2015Q1. The ratio increased, as 62 funds sold all Adobe Systems Incorporated shares owned while 242 reduced positions. 65 funds bought stakes while 205 increased positions. They now own 450.73 million shares or 15.10% less from 530.92 million shares in 2015Q1.
Family Capital Trust Co holds 30.56% of its portfolio in Adobe Systems Incorporated for 672,384 shares. Glade Brook Capital Partners Llc owns 618,755 shares or 18.46% of their US portfolio. Moreover, Valueact Holdings L.P. has 6.7% invested in the company for 15.70 million shares. The New York-based Kemnay Advisory Services Inc. has invested 5.77% in the stock. Southpoint Capital Advisors Lp, a New York-based fund reported 1.50 million shares.
Since March 12, 2015, the stock had 0 insider purchases, and 24 sales for $195.52 million net activity. Morris Donna sold 16,000 shares worth $1.41 million. Sedgewick Robert sold 15,942 shares worth $1.42 million. Daley James E sold 5,000 shares worth $441,677. Rencher Bradley sold 26,000 shares worth $2.31 million. The insider Lewnes Ann sold 4,000 shares worth $336,000.
Adobe Systems Incorporated is a software company. The company has a market cap of $45.97 billion. The Firm offers services and products for professionals, marketers, application developers, enterprises and clients for creating, managing, delivering, optimizing and engaging with content. It has 93.58 P/E ratio. Adobe markets and licenses its services and products through app stores and its Website www.adobe.com.