Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by stock analysts at Robert W. Baird in a research report issued to clients and investors on Monday. They presently have a $38.00 price objective on the network equipment provider’s stock. Robert W. Baird’s target price would indicate a potential upside of 17.25% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Citigroup Inc. set a $36.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Friday, May 19th. Deutsche Bank AG set a $40.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Friday, May 19th. Drexel Hamilton restated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, May 16th. Jefferies Group LLC restated a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Friday, May 19th. Finally, Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $35.13 target price on the stock. in a research note on Monday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $35.54.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 32.41 on Monday. The firm has a 50-day moving average of $31.60 and a 200 day moving average of $32.49. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The company has a market cap of $161.82 billion, a price-to-earnings ratio of 17.06 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, analysts expect that Cisco Systems will post $2.43 earnings per share for the current year.
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In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Washington Trust Bank boosted its stake in Cisco Systems by 2.5% during the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after buying an additional 2,726 shares during the period. Holderness Investments Co. boosted its stake in Cisco Systems by 12.1% during the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after buying an additional 7,186 shares during the period. Investment House LLC boosted its stake in Cisco Systems by 7.5% during the second quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock worth $2,673,000 after buying an additional 5,975 shares during the period. Pioneer Investment Management Inc. boosted its stake in Cisco Systems by 5.2% during the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after buying an additional 408,875 shares during the period. Finally, Murphy Capital Management Inc. boosted its stake in Cisco Systems by 28.4% during the second quarter. Murphy Capital Management Inc. now owns 61,309 shares of the network equipment provider’s stock worth $1,918,000 after buying an additional 13,568 shares during the period. 74.70% of the stock is owned by institutional investors.
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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