Cisco Systems’ (CSCO) “Buy” Rating Reiterated at Argus

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Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by Argus in a research report issued on Thursday, 24/7 WallStreet reports.

Other research analysts have also issued research reports about the stock. Standpoint Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Cisco Systems from to in a research report on Thursday, March 12th. KeyCorp lifted their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Morgan Stanley decreased their price target on shares of Cisco Systems from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 19th. Finally, William Blair restated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $52.64.

NASDAQ:CSCO traded up $2.91 during midday trading on Thursday, hitting $40.58. 36,706,865 shares of the stock were exchanged, compared to its average volume of 49,812,412. Cisco Systems has a one year low of $32.40 and a one year high of $58.26. The company has a market capitalization of $163.70 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.44 and a beta of 1.23. The business has a 50-day moving average price of $42.12 and a two-hundred day moving average price of $45.95. The company has a current ratio of 1.81, a quick ratio of 1.75 and a debt-to-equity ratio of 0.41.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Cisco Systems had a return on equity of 36.40% and a net margin of 21.44%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. Sell-side analysts forecast that Cisco Systems will post 2.93 EPS for the current fiscal year.

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $41.17, for a total value of $2,881,900.00. Following the completion of the sale, the chief financial officer now owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Maria Martinez sold 5,000 shares of Cisco Systems stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $232,650.00. Following the completion of the sale, the executive vice president now directly owns 199,321 shares of the company’s stock, valued at approximately $9,274,406.13. The disclosure for this sale can be found here. Insiders have sold a total of 78,910 shares of company stock valued at $3,296,482 in the last three months. Company insiders own 0.03% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CSCO. Psagot Investment House Ltd. lifted its stake in Cisco Systems by 65.2% in the third quarter. Psagot Investment House Ltd. now owns 807,372 shares of the network equipment provider’s stock worth $39,892,000 after acquiring an additional 318,519 shares during the period. Colony Group LLC lifted its position in Cisco Systems by 0.3% during the third quarter. Colony Group LLC now owns 631,635 shares of the network equipment provider’s stock valued at $31,209,000 after buying an additional 1,866 shares during the period. Voya Financial Advisors Inc. lifted its position in Cisco Systems by 8.5% during the third quarter. Voya Financial Advisors Inc. now owns 89,616 shares of the network equipment provider’s stock valued at $4,377,000 after buying an additional 7,053 shares during the period. Merit Financial Group LLC lifted its position in Cisco Systems by 22.2% during the third quarter. Merit Financial Group LLC now owns 5,684 shares of the network equipment provider’s stock valued at $281,000 after buying an additional 1,034 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in Cisco Systems by 1.2% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 337,614 shares of the network equipment provider’s stock valued at $16,682,000 after buying an additional 3,840 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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