Certuity LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Certuity LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,186 shares of the network equipment provider’s stock after selling 6,188 shares during the period. Certuity LLC’s holdings in Cisco Systems were worth $2,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the 3rd quarter worth $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $49,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC bought a new position in shares of Cisco Systems in the third quarter worth about $56,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $62.43 on Wednesday. The stock has a market capitalization of $248.64 billion, a PE ratio of 26.79, a P/E/G ratio of 4.63 and a beta of 0.84. The company’s 50 day simple moving average is $59.78 and its 200 day simple moving average is $55.21. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $63.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Cisco Systems Profile

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.