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.
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).
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