Investors Buy Shares of Cisco Systems, Inc. (CSCO) on Weakness
Traders bought shares of Cisco Systems, Inc. (NASDAQ:CSCO) on weakness during trading hours on Thursday. $68.59 million flowed into the stock on the tick-up and $43.01 million flowed out of the stock on the tick-down, for a money net flow of $25.58 million into the stock. Of all companies tracked, Cisco Systems had the 16th highest net in-flow for the day. Cisco Systems traded down ($0.11) for the day and closed at $31.76
A number of brokerages have recently issued reports on CSCO. Citigroup Inc. set a $36.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Friday, May 19th. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.54.
The stock has a 50-day moving average of $31.59 and a 200 day moving average of $32.53. The firm has a market capitalization of $157.18 billion, a price-to-earnings ratio of 16.57 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 350,642 shares of company stock worth $10,973,081 over the last ninety days. Insiders own 0.11% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Southeast Asset Advisors Inc. grew its stake in Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares during the last quarter. Opes Advisors Inc grew its stake in shares of Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 44 shares during the last quarter. Leisure Capital Management grew its stake in shares of Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after purchasing an additional 48 shares during the last quarter. Ronald Blue & Co. LLC grew its stake in shares of Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after purchasing an additional 57 shares during the last quarter. Finally, Banced Corp grew its stake in shares of Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after purchasing an additional 59 shares during the last quarter. 74.70% 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).
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