Cisco Systems’ (CSCO) Neutral Rating Reiterated at Piper Sandler

Cisco Systems (NASDAQ:CSCO)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a report released on Thursday, Benzinga reports. They presently have a $52.00 target price on the network equipment provider’s stock, up from their prior target price of $51.00. Piper Sandler’s price objective indicates a potential upside of 5.76% from the stock’s current price.

Several other equities analysts also recently commented on CSCO. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday. Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.08.

Cisco Systems Stock Performance

CSCO traded down $0.50 on Thursday, reaching $49.17. The company had a trading volume of 12,743,012 shares, compared to its average volume of 18,926,131. The company’s fifty day moving average is $48.73 and its 200 day moving average is $49.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market cap of $199.10 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.81 and a beta of 0.87. Cisco Systems has a fifty-two week low of $45.70 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts predict that Cisco Systems will post 3.13 earnings per share for the current fiscal year.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Cisco Systems

Institutional investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC lifted its holdings in Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares during the period. Roble Belko & Company Inc boosted its position in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the period. Louisiana State Employees Retirement System bought a new stake in Cisco Systems in the fourth quarter worth approximately $28,685,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares during the period. 73.33% of the stock is currently 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.