Cisco Systems, Inc. (NASDAQ:CSCO) PT Set at $40.00 by Deutsche Bank AG

Cisco Systems, Inc. (NASDAQ:CSCO) received a $40.00 target price from investment analysts at Deutsche Bank AG in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the network equipment provider’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 26.38% from the company’s previous close.

Several other research analysts also recently issued reports on CSCO. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. BMO Capital Markets restated a “hold” rating on shares of Cisco Systems in a report on Friday, July 28th. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 price objective for the company. in a report on Monday, July 24th. Finally, BidaskClub downgraded Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $35.31.

Cisco Systems (NASDAQ CSCO) traded down 1.153% during midday trading on Wednesday, hitting $31.285. The stock had a trading volume of 7,260,543 shares. The stock has a market cap of $156.43 billion, a price-to-earnings ratio of 15.881 and a beta of 1.24. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.60. The company has a 50-day moving average of $31.58 and a 200-day moving average of $32.49.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. Equities research analysts forecast that Cisco Systems will post $2.38 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by [[site]] and is the property of of [[site]]. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at [[permalink]].

In other news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,179 shares of company stock valued at $12,503,407. Corporate insiders own 0.11% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Bienville Capital Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $232,000. SRS Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $227,000. Janus Capital Management LLC boosted its stake in shares of Cisco Systems by 78.5% in the fourth quarter. Janus Capital Management LLC now owns 2,989,378 shares of the network equipment provider’s stock worth $90,339,000 after buying an additional 1,314,340 shares during the period. Glassman Wealth Services boosted its stake in shares of Cisco Systems by 56.8% in the fourth quarter. Glassman Wealth Services now owns 20,286 shares of the network equipment provider’s stock worth $613,000 after buying an additional 7,350 shares during the period. Finally, Intellectus Partners LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,300,000. 75.37% of the stock is owned by hedge funds and other institutional investors.

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).