Cisco Systems (NASDAQ:CSCO) Stock Rating Reaffirmed by Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Cisco Systems (NASDAQ:CSCO) in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. The firm currently has a $57.00 price target on the network equipment provider’s stock.

“We appreciate Cisco’s desire to reinforce its position as the leader in enterprise networking as customers demand higher throughput solutions.”,” the firm’s analyst wrote.

CSCO has been the subject of a number of other reports. Jefferies Financial Group upped their price target on Nice to $166.00 and gave the company a buy rating in a research note on Thursday, May 16th. Credit Suisse Group upped their price target on Johnson & Johnson from $152.00 to $156.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Morgan Stanley set a $100.00 price target on Cimarex Energy and gave the company a buy rating in a research note on Thursday, May 16th. William Blair cut Medidata Solutions from an outperform rating to a market perform rating in a research note on Wednesday, June 12th. Finally, KeyCorp reaffirmed a hold rating on shares of Tyler Technologies in a research note on Monday, March 25th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Cisco Systems has an average rating of Buy and an average price target of $56.30.

Shares of CSCO stock traded up $0.17 on Wednesday, reaching $57.30. The company had a trading volume of 15,489,478 shares, compared to its average volume of 21,590,543. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $245.29 billion, a PE ratio of 24.49, a PEG ratio of 2.89 and a beta of 1.18. The stock’s 50-day simple moving average is $55.34. Cisco Systems has a 12 month low of $40.25 and a 12 month high of $58.15.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $12.96 billion during the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. Cisco Systems’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Analysts anticipate that Cisco Systems will post 2.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.44%. Cisco Systems’s payout ratio is 59.83%.

In related news, EVP Mark D. Chandler sold 1,379 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total transaction of $77,141.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total value of $1,124,200.00. Following the sale, the director now directly owns 5,263 shares of the company’s stock, valued at $295,833.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,129 shares of company stock valued at $5,159,754. 0.03% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC grew its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 33,285,440 shares of the network equipment provider’s stock worth $1,619,337,000 after acquiring an additional 558,313 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Cisco Systems by 36.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after acquiring an additional 7,238,755 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Cisco Systems by 3.1% during the 3rd quarter. Teachers Advisors LLC now owns 16,278,554 shares of the network equipment provider’s stock worth $791,952,000 after acquiring an additional 482,109 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Cisco Systems by 4.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,269,461 shares of the network equipment provider’s stock worth $618,297,000 after acquiring an additional 616,591 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Cisco Systems by 1.3% during the 4th quarter. California Public Employees Retirement System now owns 13,051,256 shares of the network equipment provider’s stock worth $565,511,000 after acquiring an additional 173,161 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

About Cisco Systems

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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