Robert W. Baird Reiterates “Buy” Rating for Cisco Systems, Inc. (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by equities researchers at Robert W. Baird in a note issued to investors on Thursday. They currently have a $38.00 price target on the network equipment provider’s stock. Robert W. Baird’s price target suggests a potential upside of 25.12% from the company’s current price.
A number of other equities analysts also recently issued reports on CSCO. Instinet restated a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co restated a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research report on Wednesday, April 26th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Fourteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $35.47.
Shares of Cisco Systems (NASDAQ CSCO) traded down 2.16% during mid-day trading on Thursday, reaching $30.37. The company’s stock had a trading volume of 34,802,193 shares. The company has a 50-day moving average of $31.48 and a 200-day moving average of $32.55. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $151.64 billion, a PE ratio of 15.98 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, analysts predict 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 295,537 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 396,179 shares of company stock worth $12,503,407. Corporate insiders own 0.11% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Dodge & Cox purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $1,950,935,000. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $1,306,395,000. Nordea Investment Management AB raised its stake in shares of Cisco Systems by 12.1% in the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after buying an additional 3,384,768 shares during the last quarter. Finally, Boston Partners raised its stake in shares of 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. Hedge funds and other institutional investors own 75.28% of the company’s stock.
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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