Cisco Systems Inc. (NASDAQ:CSCO) shares reached a new 52-week high during trading on Thursday . The company traded as high as $31.39 and last traded at $31.36, with a volume of 12,508,064 shares. The stock had previously closed at $31.06.

CSCO has been the topic of a number of research analyst reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $30.00 target price on shares of Cisco Systems in a report on Monday, May 2nd. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $29.92 price target on the stock in a report on Wednesday, May 4th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 11th. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $30.00 price target on shares of Cisco Systems in a report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $31.84.

The company has a 50-day moving average of $30.58 and a 200 day moving average of $28.43. The firm has a market cap of $157.72 billion and a price-to-earnings ratio of 14.86.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. During the same quarter last year, the business earned $0.59 earnings per share. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.

In other Cisco Systems news, EVP Pankaj Patel sold 4,133 shares of the firm’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $29.02, for a total transaction of $119,939.66. Following the completion of the sale, the executive vice president now directly owns 359,174 shares in the company, valued at $10,423,229.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rebecca Jacoby sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $28.97, for a total transaction of $2,607,300.00. Following the sale, the senior vice president now owns 318,730 shares of the company’s stock, valued at $9,233,608.10. The disclosure for this sale can be found here.

A number of large investors recently modified their holdings of CSCO. Madison Investment Holdings Inc. increased its stake in shares of Cisco Systems by 33.9% in the fourth quarter. Madison Investment Holdings Inc. now owns 860,432 shares of the network equipment provider’s stock valued at $23,365,000 after buying an additional 217,955 shares during the period. MUFG Americas Holdings Corp increased its stake in shares of Cisco Systems by 2.1% in the fourth quarter. MUFG Americas Holdings Corp now owns 608,520 shares of the network equipment provider’s stock valued at $16,525,000 after buying an additional 12,741 shares during the period. Staley Capital Advisers Inc. increased its stake in shares of Cisco Systems by 0.5% in the fourth quarter. Staley Capital Advisers Inc. now owns 921,420 shares of the network equipment provider’s stock valued at $25,021,000 after buying an additional 4,180 shares during the period. Usca Ria LLC increased its stake in shares of Cisco Systems by 7.1% in the fourth quarter. Usca Ria LLC now owns 264,655 shares of the network equipment provider’s stock valued at $7,187,000 after buying an additional 17,515 shares during the period. Finally, Bailard Inc. increased its stake in shares of Cisco Systems by 40.2% in the fourth quarter. Bailard Inc. now owns 117,170 shares of the network equipment provider’s stock valued at $3,182,000 after buying an additional 33,568 shares during the period.

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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