Other analysts have also recently issued research reports about the stock. Citigroup cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $52.00 in a report on Wednesday, January 8th. ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Evercore ISI reissued a “buy” rating on shares of Cisco Systems in a report on Sunday, December 15th. William Blair reissued a “market perform” rating on shares of Cisco Systems in a report on Thursday, November 14th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Cisco Systems in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Cisco Systems has an average rating of “Hold” and a consensus target price of $54.69.
NASDAQ:CSCO traded up $0.74 during mid-day trading on Tuesday, hitting $48.75. The stock had a trading volume of 5,429,634 shares, compared to its average volume of 17,295,774. The stock has a 50-day simple moving average of $46.45 and a two-hundred day simple moving average of $49.14. The company has a market capitalization of $202.74 billion, a PE ratio of 17.11, a PEG ratio of 2.78 and a beta of 1.23. Cisco Systems has a twelve month low of $43.40 and a twelve month high of $58.26. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The firm had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems will post 2.94 EPS for the current fiscal year.
In other Cisco Systems news, EVP Irving Tan sold 10,733 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $480,945.73. Following the sale, the executive vice president now directly owns 172,199 shares in the company, valued at approximately $7,716,237.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 19,880 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $44.83, for a total transaction of $891,220.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,864 shares of company stock worth $17,474,321. 0.03% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nachman Norwood & Parrott Inc raised its stake in shares of Cisco Systems by 8.3% during the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock worth $938,000 after buying an additional 1,460 shares during the last quarter. Evoke Wealth LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth $1,387,000. Eagle Asset Management Inc. raised its stake in shares of Cisco Systems by 10.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,195,050 shares of the network equipment provider’s stock worth $157,867,000 after buying an additional 299,499 shares during the last quarter. Sepio Capital LLC raised its stake in shares of Cisco Systems by 16.0% during the 3rd quarter. Sepio Capital LLC now owns 231,224 shares of the network equipment provider’s stock worth $11,419,000 after buying an additional 31,894 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Cisco Systems during the 2nd quarter worth $2,455,000. Institutional investors own 72.55% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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