Cisco Systems, Inc. (NASDAQ:CSCO) Receives Consensus Rating of “Moderate Buy” from Analysts
Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) has earned an average rating of “Moderate Buy” from the twenty-three research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $53.63.
Several research firms have recently issued reports on CSCO. The Goldman Sachs Group raised their price target on Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Bank of America reaffirmed a “buy” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, November 16th. Raymond James lowered their target price on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, August 18th. Barclays downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $46.00 in a research report on Wednesday, September 21st. Finally, Evercore ISI boosted their price target on Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th.
Insider Transactions at Cisco Systems
In related news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 98,342 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $50.03, for a total transaction of $4,920,050.26. Following the transaction, the chief financial officer now directly owns 304,048 shares in the company, valued at approximately $15,211,521.44. The disclosure for this sale can be found here. Insiders have sold 266,472 shares of company stock valued at $12,978,029 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Cisco Systems
Several large investors have recently modified their holdings of the stock. EP Wealth Advisors LLC grew its stake in Cisco Systems by 9.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 949,524 shares of the network equipment provider’s stock valued at $37,981,000 after buying an additional 81,070 shares in the last quarter. Gould Capital LLC lifted its stake in Cisco Systems by 2.0% in the third quarter. Gould Capital LLC now owns 56,656 shares of the network equipment provider’s stock worth $2,266,000 after purchasing an additional 1,090 shares during the last quarter. Aurora Investment Counsel lifted its stake in Cisco Systems by 12.0% in the third quarter. Aurora Investment Counsel now owns 35,716 shares of the network equipment provider’s stock worth $1,429,000 after purchasing an additional 3,840 shares during the last quarter. Toroso Investments LLC lifted its stake in Cisco Systems by 4.5% in the third quarter. Toroso Investments LLC now owns 201,939 shares of the network equipment provider’s stock worth $8,078,000 after purchasing an additional 8,644 shares during the last quarter. Finally, Continental Investors Services Inc. bought a new stake in Cisco Systems in the third quarter worth $449,000. Hedge funds and other institutional investors own 71.71% of the company’s stock.
Cisco Systems Price Performance
Cisco Systems stock opened at $49.70 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.34. The company has a market capitalization of $204.21 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.43 and a beta of 1.00. Cisco Systems has a one year low of $38.60 and a one year high of $64.29. The business has a 50 day simple moving average of $44.09 and a 200 day simple moving average of $44.38.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $13.63 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. On average, sell-side analysts forecast that Cisco Systems will post 3.17 EPS for the current fiscal year.
About Cisco Systems
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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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