Cisco Systems (NASDAQ:CSCO) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $45.11 target price on the network equipment provider’s stock. Vetr‘s target price indicates a potential upside of 2.52% from the company’s previous close.
A number of other research firms also recently commented on CSCO. Royal Bank of Canada reaffirmed a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a report on Wednesday, November 15th. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. BMO Capital Markets boosted their price target on Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. KeyCorp boosted their price target on Cisco Systems from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus target price of $43.66.
Shares of Cisco Systems (CSCO) opened at $44.00 on Thursday. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $45.13. The company has a market capitalization of $222,890.00, a PE ratio of -137.50, a P/E/G ratio of 2.89 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. analysts expect that Cisco Systems will post 2.32 EPS for the current fiscal year.
Cisco Systems announced that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, Director Arun Sarin sold 14,189 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the sale, the director now owns 113,154 shares of the company’s stock, valued at $4,299,852. The disclosure for this sale can be found here. Insiders have sold 104,440 shares of company stock valued at $4,086,782 over the last quarter. 0.05% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Rand Wealth LLC grew its holdings in Cisco Systems by 0.9% in the 2nd quarter. Rand Wealth LLC now owns 239,630 shares of the network equipment provider’s stock valued at $7,500,000 after buying an additional 2,130 shares in the last quarter. Anchor Capital Advisors LLC grew its holdings in Cisco Systems by 10.8% in the 2nd quarter. Anchor Capital Advisors LLC now owns 27,800 shares of the network equipment provider’s stock valued at $870,000 after buying an additional 2,700 shares in the last quarter. Eagle Ridge Investment Management grew its holdings in Cisco Systems by 72.6% in the 2nd quarter. Eagle Ridge Investment Management now owns 14,605 shares of the network equipment provider’s stock valued at $263,000 after buying an additional 6,143 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in Cisco Systems by 1.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 15,033 shares of the network equipment provider’s stock valued at $471,000 after buying an additional 202 shares in the last quarter. Finally, NewFocus Financial Group LLC grew its holdings in Cisco Systems by 0.8% in the 2nd quarter. NewFocus Financial Group LLC now owns 159,318 shares of the network equipment provider’s stock valued at $4,987,000 after buying an additional 1,273 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.
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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).
To view Vetr’s full report, visit Vetr’s official website.
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