Cisco Systems, Inc. (CSCO) Rating Reiterated by Piper Jaffray Companies
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by Piper Jaffray Companies in a research note issued to investors on Thursday. They presently have a $36.00 price target on the network equipment provider’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 7.17% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Credit Suisse Group reissued a “hold” rating and set a $35.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. Jefferies Group LLC reissued a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. BMO Capital Markets reissued a “hold” rating and set a $32.00 price target on shares of Cisco Systems in a research report on Thursday, September 28th. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Monday, September 25th. Fifteen analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $35.38.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion during 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 was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share.
TRADEMARK VIOLATION WARNING: This story was published by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/10/12/cisco-systems-inc-csco-rating-reiterated-by-piper-jaffray-companies.html.
In related news, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 over the last quarter. 0.11% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. bought a new stake in Cisco Systems during the 2nd quarter valued at $231,000. Barnett & Company Inc. raised its holdings in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after purchasing an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems in the 2nd quarter worth $104,000. Finally, Manchester Capital Management LLC raised its holdings in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 75.38% of the company’s stock.
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).
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.