Cisco Systems’ (CSCO) Buy Rating Reiterated at Cowen and Company
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen and Company in a research note issued on Friday. They currently have a $38.00 price objective on the network equipment provider’s stock. Cowen and Company’s price objective points to a potential upside of 11.11% from the stock’s current price.
CSCO has been the topic of a number of other research reports. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research report on Monday, September 11th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Thursday, August 17th. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research report on Thursday, August 17th. Finally, Bank of America Corporation restated a “neutral” rating and set a $35.00 price objective on shares of Cisco Systems in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $35.26.
Shares of Cisco Systems (CSCO) traded down $0.42 during mid-day trading on Friday, reaching $34.20. The company had a trading volume of 3,065,751 shares, compared to its average volume of 15,952,130. The firm has a market cap of $169.40 billion, a P/E ratio of 15.77 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The business 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%. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. equities analysts anticipate that Cisco Systems will post 2.18 EPS for the current year.
In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 485,138 shares of company stock worth $15,347,574. 0.05% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Cisco Systems during the second quarter worth $231,000. Barnett & Company Inc. lifted its position in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after acquiring an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after acquiring an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Cisco Systems during the second quarter worth $104,000. Finally, Manchester Capital Management LLC raised its position in shares of Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 75.24% 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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