Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a note issued to investors on Thursday. They currently have a $37.00 price target on the network equipment provider’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 16.35% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Citigroup Inc. set a $36.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Friday, May 19th. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Saturday, July 1st. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research note on Wednesday, April 26th. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.31.
Shares of Cisco Systems (CSCO) opened at 31.80 on Thursday. The company has a 50 day moving average price of $31.58 and a 200 day moving average price of $32.49. The stock has a market cap of $159.00 billion, a P/E ratio of 16.14 and a beta of 1.24. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
In related news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were 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 owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Dodge & Cox acquired a new position in Cisco Systems during the fourth quarter valued at approximately $1,950,935,000. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at approximately $1,306,395,000. Boston Partners boosted its position in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Cisco Systems during the fourth quarter valued at approximately $134,343,000. Finally, Karp Capital Management Corp acquired a new position in Cisco Systems during the first quarter valued at approximately $109,564,000. 75.37% of the stock is owned by 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).
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