Barclays Boosts Cisco Systems (CSCO) Price Target to $45.00

Cisco Systems (NASDAQ:CSCO) had its target price boosted by equities research analysts at Barclays from $37.00 to $45.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “overweight” rating on the network equipment provider’s stock. Barclays’ price target points to a potential upside of 11.00% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target on the stock. in a report on Monday, September 25th. Berenberg Bank restated a “hold” rating and set a $33.00 price target on shares of Cisco Systems in a report on Tuesday, October 24th. Finally, BMO Capital Markets restated a “hold” rating and set a $32.00 price target on shares of Cisco Systems in a report on Monday, October 23rd. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.47.

Shares of Cisco Systems (NASDAQ CSCO) opened at $40.54 on Wednesday. Cisco Systems has a 52 week low of $29.84 and a 52 week high of $41.16. 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 firm has a market capitalization of $201,960.00, a PE ratio of 21.01, a PEG ratio of 3.70 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the company posted $0.61 EPS. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts expect that Cisco Systems will post 2.21 earnings per share for the current year.

In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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. Insiders have sold a total of 348,643 shares of company stock worth $12,892,271 in the last quarter. Company insiders own 0.05% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CSCO. Guinness Asset Management Ltd boosted its position in shares of Cisco Systems by 25.5% in the 2nd quarter. Guinness Asset Management Ltd now owns 474,871 shares of the network equipment provider’s stock worth $14,864,000 after purchasing an additional 96,500 shares in the last quarter. BKD Wealth Advisors LLC boosted its position in shares of Cisco Systems by 4.6% in the 2nd quarter. BKD Wealth Advisors LLC now owns 119,422 shares of the network equipment provider’s stock worth $3,738,000 after purchasing an additional 5,263 shares in the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Cisco Systems by 5.7% in the 2nd quarter. Cardinal Capital Management Inc. now owns 466,439 shares of the network equipment provider’s stock worth $14,600,000 after purchasing an additional 25,290 shares in the last quarter. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $1,120,000. Finally, Capital One National Association boosted its position in shares of Cisco Systems by 1.3% in the 2nd quarter. Capital One National Association now owns 137,293 shares of the network equipment provider’s stock worth $4,297,000 after purchasing an additional 1,720 shares in the last quarter. 75.60% of the stock is currently owned by hedge funds and other institutional investors.

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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).