Cisco Systems (NASDAQ:CSCO) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

A number of other research firms also recently commented on CSCO. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.99 to $46.00 in a research report on Friday. They noted that the move was a valuation call. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 target price for the company in a research report on Wednesday, December 27th. Stifel Nicolaus reiterated a “hold” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Thursday, December 14th. Sanford C. Bernstein reiterated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Monday, November 27th. Finally, Robert W. Baird reiterated a “buy” rating and set a $41.00 target price on shares of Cisco Systems in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $37.66.

Cisco Systems (NASDAQ CSCO) traded up $0.54 during mid-day trading on Friday, reaching $39.53. The company’s stock had a trading volume of 24,369,510 shares, compared to its average volume of 20,350,000. Cisco Systems has a 1-year low of $29.80 and a 1-year high of $39.88. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $198,130.00, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 3.53 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities analysts predict that Cisco Systems will post 2.21 EPS for the current fiscal year.

In other news, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the transaction, the senior vice president now owns 176,418 shares in the company, valued at $6,437,492.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CSCO. Barnett & Company Inc. grew its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC grew its stake in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems in the second quarter valued at about $104,000. Grove Bank & Trust grew its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 2,120 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in 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 valued at $113,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/06/cisco-systems-csco-lifted-to-strong-buy-at-bidaskclub.html.

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.