Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating restated by stock analysts at Sanford C. Bernstein in a report issued on Monday, November 27th. They currently have a $40.00 target price on the network equipment provider’s stock. Sanford C. Bernstein’s target price would suggest a potential upside of 6.92% from the stock’s previous close.
Several other equities research analysts also recently issued reports on CSCO. BidaskClub downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank set a $40.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group reissued a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a report on Thursday, August 3rd. Robert W. Baird set a $38.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, August 7th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $36.90.
Cisco Systems (NASDAQ CSCO) traded up $0.10 during trading on Monday, hitting $37.41. 16,581,800 shares of the stock were exchanged, compared to its average volume of 20,414,266. Cisco Systems has a one year low of $29.32 and a one year high of $38.03. The firm has a market cap of $184,446.55, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.37 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 issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the business posted $0.61 EPS. Cisco Systems’s revenue was down 1.7% on a year-over-year basis. analysts expect that Cisco Systems will post 2.21 earnings per share for the current year.
In other news, SVP Karen Walker sold 23,110 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 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.
Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in shares of Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after acquiring an additional 11,972,070 shares in the last quarter. Stifel Financial Corp increased its position in shares of Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after acquiring an additional 8,016,561 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after acquiring an additional 7,411,891 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after acquiring an additional 5,049,326 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock worth $423,475,000 after purchasing an additional 4,577,831 shares during the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.
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Cisco Systems Company Profile
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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