Renaissance Group LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Renaissance Group LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,855 shares of the network equipment provider’s stock after purchasing an additional 442 shares during the period. Renaissance Group LLC’s holdings in Cisco Systems were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Woodmont Investment Counsel LLC boosted its stake in shares of Cisco Systems by 0.4% during the 4th quarter. Woodmont Investment Counsel LLC now owns 41,425 shares of the network equipment provider’s stock worth $2,625,000 after purchasing an additional 180 shares during the last quarter. Autus Asset Management LLC boosted its stake in shares of Cisco Systems by 2.7% during the 4th quarter. Autus Asset Management LLC now owns 6,898 shares of the network equipment provider’s stock worth $437,000 after purchasing an additional 181 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of Cisco Systems by 1.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 19,212 shares of the network equipment provider’s stock worth $1,217,000 after purchasing an additional 183 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Cisco Systems by 41.9% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 627 shares of the network equipment provider’s stock worth $34,000 after purchasing an additional 185 shares during the last quarter. Finally, Sara Bay Financial boosted its stake in shares of Cisco Systems by 1.1% during the 4th quarter. Sara Bay Financial now owns 17,723 shares of the network equipment provider’s stock worth $1,123,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.

In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $55.16, for a total transaction of $33,537.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 15,382 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,605 shares of company stock valued at $1,121,147. 0.02% of the stock is owned by insiders.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, January 24th. Citigroup cut their price objective on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday. Raymond James cut their price objective on shares of Cisco Systems from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, February 17th. Wells Fargo & Company reduced their price target on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Cowen reduced their price target on shares of Cisco Systems to $58.00 and set a “neutral” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Buy” and an average target price of $55.09.

Shares of NASDAQ:CSCO traded up $1.22 during midday trading on Friday, reaching $42.94. The company had a trading volume of 46,135,544 shares, compared to its average volume of 26,445,572. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.34. The stock’s fifty day moving average price is $52.14 and its 200-day moving average price is $55.64. The stock has a market capitalization of $178.38 billion, a P/E ratio of 15.07, a PEG ratio of 2.07 and a beta of 0.99. Cisco Systems, Inc. has a one year low of $41.02 and a one year high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 16th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Cisco Systems Company Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOGet Rating).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.