Cisco Systems, Inc. (CSCO) PT Raised to $37.00 at Barclays PLC
Cisco Systems, Inc. (NASDAQ:CSCO) had its price target raised by analysts at Barclays PLC to $37.00 in a report issued on Thursday. The brokerage presently has an “overweight” rating on the network equipment provider’s stock. Barclays PLC’s price target suggests a potential upside of 8.47% from the company’s current price.
Several other research firms have also recently weighed in on CSCO. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 target price for the company. in a research note on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Friday, July 28th. BidaskClub cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG set a $40.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.49.
Shares of Cisco Systems (CSCO) opened at $34.11 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.03 and a quick ratio of 2.98. The stock has a market cap of $168,558.66, a price-to-earnings ratio of 15.69, a PEG ratio of 2.98 and a beta of 1.15. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.75.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, November 14th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. research analysts anticipate that Cisco Systems will post 2.18 EPS for the current year.
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In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock worth $15,347,574 in the last three months. Insiders own 0.05% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Boston Partners boosted its stake in Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after purchasing an additional 23,002,159 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Cisco Systems by 23.6% in 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 purchasing an additional 11,972,070 shares in the last quarter. Stifel Financial Corp boosted its stake in Cisco Systems by 6,109.5% in the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after purchasing an additional 8,016,561 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Cisco Systems by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after purchasing an additional 5,049,326 shares in the last quarter. 75.22% of the stock is currently owned by hedge funds and other institutional investors.
About Cisco Systems
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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