Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reissued by Robert W. Baird in a note issued to investors on Tuesday. They currently have a $41.00 target price on the network equipment provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 9.89% from the stock’s previous close.
A number of other brokerages have also recently commented on CSCO. Royal Bank Of Canada restated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a report on Wednesday, November 15th. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target on the stock. in a research note on Monday, September 25th. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.90.
Shares of Cisco Systems (NASDAQ:CSCO) traded down $0.41 during mid-day trading on Tuesday, hitting $37.31. 23,288,100 shares of the stock were exchanged, compared to its average volume of 20,430,646. Cisco Systems has a 1 year low of $29.24 and a 1 year high of $38.03. The company has a market cap of $186,473.44, a PE ratio of 17.38, a PEG ratio of 3.41 and a beta of 1.19. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. equities research analysts expect that Cisco Systems will post 2.21 earnings per share for the current year.
In other news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The disclosure for this sale can be found here. Insiders have sold a total of 493,530 shares of company stock worth $16,993,798 in the last 90 days. Company insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $231,000. Barnett & Company Inc. increased its holdings in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after acquiring an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC increased its holdings in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after acquiring an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $104,000. Finally, Manchester Capital Management LLC increased its holdings in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 350 shares in the last quarter. 75.79% of the stock is owned by hedge funds and other institutional investors.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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