Cisco Systems (CSCO) Price Target Raised to $46.00 at Instinet

Cisco Systems (NASDAQ:CSCO) had its target price hoisted by investment analysts at Instinet from $39.53 to $46.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the network equipment provider’s stock. Instinet’s price target points to a potential upside of 13.37% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup reiterated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Friday, October 20th. Royal Bank of Canada reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Wednesday, November 15th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price target on the stock in a report on Monday, November 13th. Finally, Robert W. Baird reiterated a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a report on Friday, November 10th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.19.

Shares of Cisco Systems (NASDAQ:CSCO) traded up $1.05 during trading on Monday, reaching $40.58. 3,808,238 shares of the company’s stock were exchanged, compared to its average volume of 27,345,373. Cisco Systems has a 1 year low of $30.36 and a 1 year high of $42.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The firm has a market capitalization of $195,421.38, a price-to-earnings ratio of 21.02, a P/E/G ratio of 3.55 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last issued 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 net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. research analysts expect that Cisco Systems will post 2.23 earnings per share for the current year.

In related news, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were 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 directly owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Cisco Systems by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cisco Systems by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after acquiring an additional 13,927,416 shares during the period. Ameriprise Financial Inc. increased its holdings in Cisco Systems by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after acquiring an additional 11,972,070 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cisco Systems by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after acquiring an additional 2,987,682 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Cisco Systems by 8.3% during the 3rd quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock worth $1,143,876,000 after acquiring an additional 2,617,310 shares during the period. Institutional investors and hedge funds own 75.42% of the company’s stock.

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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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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