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Research Reports Initiation on Application Software Stocks -- Adobe Systems, Fortinet, Red Hat, and CDK Global

NEW YORK, May 25, 2017 /PRNewswire/ --

On Wednesday, May 24, 2017, US markets saw broad based gains with seven out of nine sectors finishing the trading sessions in green. Major US indices were also bullish at the close of yesterday's session. The NASDAQ Composite ended the day at 6,163.02, up 0.40%; the Dow Jones Industrial Average edged 0.36% higher, to finish at 21,012.42; and the S&P 500 closed at 2,404.39, up 0.25%. This Thursday morning, looks at the performance of these four Application Software stocks: Adobe Systems Inc. (NASDAQ: ADBE), Fortinet Inc. (NASDAQ: FTNT), Red Hat Inc. (NYSE: RHT), and CDK Global Inc. (NASDAQ: CDK). You can access our complimentary research reports on these stocks now at:

Adobe Systems  

San Jose, California headquartered Adobe Systems Inc.'s stock finished Wednesday's session 1.15% higher at $141.12 with a total trading volume of 1.70 million shares. The Company's shares have advanced 5.72% in the past month, 18.76% over the previous three months, and 37.08% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 7.35% and 24.12%, respectively. Furthermore, shares of Adobe Systems, which operates as a diversified software company worldwide, have a Relative Strength Index (RSI) of 75.15. Visit us today and download your complete report on ADBE for free at:


Shares in Sunnyvale, California headquartered Fortinet Inc. ended at $39.80, down 0.67% from the last trading session. The stock recorded a trading volume of 812,071 shares. The Company's shares have gained 6.90% in the previous three months and 32.14% on an YTD basis. The stock is trading 3.51% above its 50-day moving average and 14.58% above its 200-day moving average. Moreover, shares of Fortinet, which provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide, have an RSI of 54.06.

On April 28th, 2017, research firm UBS reiterated it's 'Buy' rating on the Company's stock with an increase of the target price from $42 a share to $45 a share. The complimentary research report on FTNT can be accessed at:

Red Hat  

Raleigh, North Carolina headquartered Red Hat Inc.'s stock ended yesterday's session 0.41% higher at $87.99 with a total trading volume of 784,014 shares. The Company's shares have advanced 0.46% in the past month, 4.01% over the previous three months, and 26.24% on an YTD basis. The stock is trading 2.02% and 11.02% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Red Hat, which provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide, have an RSI of 54.97.

On May 24th, 2017, research firm Bernstein initiated a 'Market Perform' rating on the Company's stock, with a target price of $102 per share. Register for free on and download the PDF research report on RHT at:

CDK Global  

On Wednesday, shares in Hoffman Estates, Illinois headquartered CDK Global Inc. recorded a trading volume of 512,628 shares. The stock finished 0.20% higher at $61.21. The Company's shares have advanced 2.55% since the start of this year. The stock is trading above its 200-day moving average by 1.11%. Furthermore, shares of CDK Global, which provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide, have an RSI of 38.19. Get free access to your research report on CDK at:


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