Short Interest in Cisco Systems, Inc. (CSCO) Declines By 11.7%
Cisco Systems, Inc. (NASDAQ:CSCO) was the target of a significant decrease in short interest during the month of October. As of October 13th, there was short interest totalling 50,796,936 shares, a decrease of 11.7% from the September 29th total of 57,495,223 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 14,548,896 shares, the short-interest ratio is currently 3.5 days.
Shares of Cisco Systems (CSCO) opened at 34.30 on Thursday. The firm’s 50-day moving average price is $33.22 and its 200-day moving average price is $32.37. The company has a market cap of $169.85 billion, a PE ratio of 18.05 and a beta of 1.21. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.73.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.63 EPS. Equities analysts predict that Cisco Systems will post $2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 in the last 90 days. Insiders own 0.11% of the company’s stock.
Large investors have recently bought and sold shares of the business. Washington Trust Bank increased its position in shares of Cisco Systems by 2.5% during the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after purchasing an additional 2,726 shares during the last quarter. Holderness Investments Co. increased its holdings in shares of Cisco Systems by 12.1% during the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the last quarter. Pioneer Investment Management Inc. increased its holdings in shares of Cisco Systems by 5.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after acquiring an additional 408,875 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Cisco Systems by 4.1% during the 1st quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock worth $4,982,000 after acquiring an additional 5,796 shares during the last quarter. Finally, Investment House LLC increased its holdings in shares of Cisco Systems by 7.5% during the 2nd quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock worth $2,673,000 after acquiring an additional 5,975 shares during the last quarter. 75.35% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on CSCO shares. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price objective for the company in a report on Thursday, July 6th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Deutsche Bank AG set a $40.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.30.
ILLEGAL ACTIVITY NOTICE: “Short Interest in Cisco Systems, Inc. (CSCO) Declines By 11.7%” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/26/short-interest-in-cisco-systems-inc-csco-declines-by-11-7.html.
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.