Cisco Systems (NASDAQ:CSCO) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Cisco Systems (NASDAQ:CSCO) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $73.00 price objective on the network equipment provider’s stock, up from their previous price objective of $65.00. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 11.74% from the company’s previous close.

A number of other brokerages have also issued reports on CSCO. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Stock Down 0.3%

Shares of Cisco Systems stock opened at $65.33 on Monday. The business has a 50-day moving average of $60.86 and a 200-day moving average of $60.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $258.71 billion, a PE ratio of 26.67, a P/E/G ratio of 3.95 and a beta of 0.88. Cisco Systems has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities analysts forecast that Cisco Systems will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 4,185 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. Company insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC bought a new position in Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC raised its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth $30,000. Institutional investors own 73.33% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.