Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by equities researchers at Robert W. Baird in a note issued to investors on Tuesday. They currently have a $41.00 price target on the network equipment provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 9.60% from the stock’s previous close.
A number of other research analysts have also weighed in on CSCO. Vetr lowered shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $35.93 price objective on the stock. in a research note on Wednesday, November 29th. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Sunday, August 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, JMP Securities reaffirmed 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $36.90.
Cisco Systems (NASDAQ:CSCO) opened at $37.41 on Tuesday. Cisco Systems has a 12 month low of $29.32 and a 12 month high of $38.03. The stock has a market cap of $186,473.44, a price-to-earnings ratio of 17.38, a P/E/G ratio of 3.41 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $12.11 billion. During the same period last year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. analysts predict that Cisco Systems will post 2.21 EPS for the current year.
In other news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the transaction, the senior vice president now owns 176,418 shares of the company’s stock, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. Insiders have sold 493,530 shares of company stock valued at $16,993,798 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Richard Bernstein Advisors LLC increased its stake in shares of Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after purchasing an additional 14,395 shares in the last quarter. Eads & Heald Investment Counsel boosted its position in shares of Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after acquiring an additional 5,765 shares during the period. Washington Trust Bank boosted its position in shares of Cisco Systems by 2.5% in the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after acquiring an additional 2,726 shares during the period. Finally, Holderness Investments Co. boosted its position in shares of Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after acquiring an additional 7,186 shares during the period. Hedge funds and other institutional investors own 75.79% of the company’s stock.
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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