Barclays Lowers Cisco Systems (NASDAQ:CSCO) Price Target to $49.00

Cisco Systems (NASDAQ:CSCO) had its price objective dropped by investment analysts at Barclays from $50.00 to $49.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the network equipment provider’s stock. Barclays‘s price objective would indicate a potential downside of 0.51% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Oppenheimer upped their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.81.

Cisco Systems Trading Up 8.4 %

Shares of CSCO traded up $3.81 during midday trading on Thursday, hitting $49.25. The stock had a trading volume of 14,349,195 shares, compared to its average volume of 19,679,123. Cisco Systems has a 1 year low of $44.50 and a 1 year high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock’s 50 day moving average is $46.62 and its 200 day moving average is $47.92. The firm has a market cap of $198.42 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. As a group, analysts forecast that Cisco Systems will post 3.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Daymark Wealth Partners LLC grew its stake in shares of Cisco Systems by 4.3% during the 2nd quarter. Daymark Wealth Partners LLC now owns 404,090 shares of the network equipment provider’s stock worth $19,198,000 after purchasing an additional 16,830 shares during the period. Dimension Capital Management LLC grew its position in Cisco Systems by 4.3% during the second quarter. Dimension Capital Management LLC now owns 8,956 shares of the network equipment provider’s stock valued at $426,000 after buying an additional 373 shares during the period. Abich Financial Wealth Management LLC increased its holdings in Cisco Systems by 1,153.7% in the second quarter. Abich Financial Wealth Management LLC now owns 4,902 shares of the network equipment provider’s stock valued at $233,000 after buying an additional 4,511 shares in the last quarter. Alley Investment Management Company LLC raised its position in shares of Cisco Systems by 1.3% in the second quarter. Alley Investment Management Company LLC now owns 102,293 shares of the network equipment provider’s stock worth $4,860,000 after acquiring an additional 1,290 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Cisco Systems during the 2nd quarter worth about $2,269,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.