Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a $33.00 price target by research analysts at KeyCorp in a research report issued on Wednesday. The firm currently has a “buy” rating on the network equipment provider’s stock. KeyCorp’s target price would suggest a potential downside of 1.76% from the company’s current price.

CSCO has been the subject of a number of other reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective for the company in a research note on Wednesday, September 6th. Robert W. Baird reiterated a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. Drexel Hamilton reiterated a “buy” rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Sunday, June 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Thursday, August 17th. Fifteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.30.

Shares of Cisco Systems (CSCO) traded down 0.997% during midday trading on Wednesday, hitting $33.255. The company had a trading volume of 9,524,084 shares. The stock has a market capitalization of $164.68 billion, a price-to-earnings ratio of 17.503 and a beta of 1.21. The stock’s 50-day moving average price is $32.63 and its 200-day moving average price is $32.35. Cisco Systems has a one year low of $29.12 and a one year high of $34.60.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period in the previous year, the business earned $0.63 EPS. Cisco Systems’s revenue was down 4.0% compared to the same quarter last year. Analysts predict that Cisco Systems will post $2.43 EPS for the current year.

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In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares in the company, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 485,138 shares of company stock worth $15,347,574. Corporate insiders own 0.11% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CSCO. Boston Partners grew its holdings in shares of Cisco Systems by 304.2% during 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. Vanguard Group Inc. grew its holdings in shares of Cisco Systems by 2.2% during 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. American Century Companies Inc. grew its holdings in shares of Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after buying an additional 5,049,326 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after buying an additional 4,577,831 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Cisco Systems by 36.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock valued at $419,903,000 after buying an additional 3,559,275 shares during the last quarter. Institutional investors and hedge funds 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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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