Short Interest in Cisco Systems, Inc. (CSCO) Increases By 14.7%
Cisco Systems, Inc. (NASDAQ:CSCO) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 52,141,364 shares, an increase of 14.7% from the November 15th total of 45,463,159 shares. Based on an average trading volume of 28,338,342 shares, the short-interest ratio is presently 1.8 days. Currently, 1.1% of the shares of the company are sold short.
Cisco Systems (NASDAQ CSCO) opened at $37.91 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. The firm has a market cap of $185,929.63, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.19. Cisco Systems has a 12-month low of $29.80 and a 12-month high of $38.10.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. equities analysts predict that Cisco Systems will post 2.21 EPS for the current fiscal year.
Several analysts have commented on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $38.00 price objective on shares of Cisco Systems in a research note on Sunday, August 20th. BMO Capital Markets restated a “hold” rating and set a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a research note on Thursday, August 17th. Finally, Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price for the company. in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.90.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,392 shares of company stock valued at $11,539,174. Company insiders own 0.05% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. 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 worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after purchasing an additional 2,987,682 shares during the period. Nordea Investment Management AB grew its holdings in shares of Cisco Systems by 8.3% in the third quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after purchasing an additional 2,617,310 shares during the period. Finally, Boston Partners grew its holdings in shares of Cisco Systems by 1.1% in the third quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock valued at $1,022,399,000 after purchasing an additional 329,474 shares during the period. Institutional investors own 75.78% of the company’s stock.
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About Cisco Systems
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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