Investors Sell Shares of Cisco Systems Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading on Friday. $78.30 million flowed into the stock on the tick-up and $97.23 million flowed out of the stock on the tick-down, for a money net flow of $18.93 million out of the stock. Of all equities tracked, Cisco Systems had the 0th highest net out-flow for the day. Cisco Systems traded up $0.06 for the day and closed at $31.35
CSCO has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $33.00 price target (up previously from $31.00) on shares of Cisco Systems in a research report on Thursday, May 19th. Credit Suisse Group AG reissued a “sell” rating on shares of Cisco Systems in a report on Thursday, June 16th. Morgan Stanley reissued a “hold” rating and set a $28.00 price objective on shares of Cisco Systems in a report on Monday, July 18th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Thursday, August 18th. Finally, Argus increased their price objective on Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.84.
The company’s 50-day moving average is $30.58 and its 200 day moving average is $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 earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The firm earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS. Analysts predict that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.
In related news, CMO Karen Walker sold 7,802 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $28.50, for a total value of $222,357.00. Following the completion of the transaction, the chief marketing officer now owns 175,250 shares in the company, valued at approximately $4,994,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the transaction, the director now owns 23,104 shares of the company’s stock, valued at approximately $722,000. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the company. Roof Eidam & Maycock ADV raised its position in shares of Cisco Systems by 0.4% in the fourth quarter. Roof Eidam & Maycock ADV now owns 37,625 shares of the network equipment provider’s stock worth $1,022,000 after buying an additional 150 shares during the period. Profund Advisors LLC raised its position in shares of Cisco Systems by 15.8% in the fourth quarter. Profund Advisors LLC now owns 403,080 shares of the network equipment provider’s stock worth $10,946,000 after buying an additional 55,104 shares during the period. ProShare Advisors LLC raised its position in shares of Cisco Systems by 3.4% in the fourth quarter. ProShare Advisors LLC now owns 2,740,070 shares of the network equipment provider’s stock worth $74,407,000 after buying an additional 89,003 shares during the period. Hallmark Capital Management Inc. raised its position in shares of Cisco Systems by 1.1% in the fourth quarter. Hallmark Capital Management Inc. now owns 473,157 shares of the network equipment provider’s stock worth $12,849,000 after buying an additional 4,934 shares during the period. Finally, Staley Capital Advisers Inc. raised its position 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 worth $25,021,000 after buying an additional 4,180 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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