Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

CSCO has been the subject of several other reports. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Friday, May 26th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 price objective (down from $37.00) on shares of Cisco Systems in a research note on Friday, May 12th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.31.

Cisco Systems (NASDAQ:CSCO) traded up 0.78% during mid-day trading on Wednesday, reaching $32.34. The company’s stock had a trading volume of 29,051,966 shares. The company has a 50-day moving average price of $31.54 and a 200-day moving average price of $32.57. The firm has a market cap of $161.70 billion, a PE ratio of 16.42 and a beta of 1.24. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Traders bought 24,568 put options on the stock. This represents an increase of 223% compared to the average daily volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. On average, equities research analysts expect that Cisco Systems will post $2.38 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Cisco Systems, Inc. (CSCO) Raised to Hold at BidaskClub” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/16/cisco-systems-inc-csco-raised-to-hold-at-bidaskclub.html.

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

A number of institutional investors have recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc acquired a new position in shares of Cisco Systems during the second quarter valued at about $104,000. Auxier Asset Management raised its position in shares of Cisco Systems by 31.0% in the second quarter. Auxier Asset Management now owns 74,773 shares of the network equipment provider’s stock valued at $2,340,000 after buying an additional 17,700 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in shares of Cisco Systems by 29.9% in the second quarter. Gofen & Glossberg LLC IL now owns 241,520 shares of the network equipment provider’s stock valued at $7,560,000 after buying an additional 55,575 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Cisco Systems by 2.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,658,559 shares of the network equipment provider’s stock valued at $114,513,000 after buying an additional 98,943 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. raised its position in shares of Cisco Systems by 1.2% in the second quarter. Schafer Cullen Capital Management Inc. now owns 4,913,113 shares of the network equipment provider’s stock valued at $153,780,000 after buying an additional 59,135 shares during the last quarter. 75.28% of the stock is currently 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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.