Commerce Bank grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,653,282 shares of the network equipment provider’s stock after purchasing an additional 68,989 shares during the period. Cisco Systems comprises approximately 1.0% of Commerce Bank’s investment portfolio, making the stock its 26th biggest holding. Commerce Bank’s holdings in Cisco Systems were worth $90,484,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Thoroughbred Financial Services LLC grew its holdings in shares of Cisco Systems by 5,677.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after purchasing an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Cisco Systems by 28.5% during the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after purchasing an additional 2,472,300 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of Cisco Systems during the second quarter worth about $10,371,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Cisco Systems by 241.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock worth $97,665,000 after purchasing an additional 1,822,091 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Cisco Systems by 224.6% during the second quarter. SG Americas Securities LLC now owns 1,873,221 shares of the network equipment provider’s stock worth $102,521,000 after purchasing an additional 1,296,138 shares during the last quarter. Institutional investors own 72.89% of the company’s stock.
CSCO stock traded up $0.16 during mid-day trading on Friday, reaching $50.10. 1,504,950 shares of the company traded hands, compared to its average volume of 20,611,740. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The company has a market capitalization of $212.43 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.29 and a beta of 1.26. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a fifty day moving average price of $50.44 and a 200-day moving average price of $53.70.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current year.
In other news, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the sale, the chief financial officer now directly owns 277,548 shares in the company, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.
Several analysts recently commented on CSCO shares. Tigress Financial reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday, June 27th. UBS Group set a $58.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America restated a “buy” rating and set a $62.00 price target on shares of Cisco Systems in a report on Wednesday, July 10th. Jefferies Financial Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. They noted that the move was a valuation call. Finally, Robert W. Baird restated a “buy” rating and set a $57.00 price target on shares of Cisco Systems in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average price target of $56.72.
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 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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