Barclays Issues Positive Forecast for Cisco Systems (NASDAQ:CSCO) Stock Price

Cisco Systems (NASDAQ:CSCO) had its price objective boosted by stock analysts at Barclays from $49.00 to $56.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the network equipment provider’s stock. Barclays‘s target price points to a potential downside of 5.37% from the company’s previous close.

Several other research firms have also recently issued reports on CSCO. Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities lifted 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, August 15th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.16.

Cisco Systems Stock Up 0.8 %

Shares of Cisco Systems stock opened at $59.18 on Thursday. The stock’s 50-day moving average is $53.82 and its 200 day moving average is $49.64. Cisco Systems has a one year low of $44.50 and a one year high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $236.17 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Equities research analysts anticipate that Cisco Systems will post 2.89 EPS for the current year.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Large investors have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Cisco Systems by 2.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 8,115 shares of the network equipment provider’s stock valued at $431,000 after purchasing an additional 220 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in Cisco Systems by 74.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 97,326 shares of the network equipment provider’s stock worth $5,160,000 after buying an additional 41,625 shares during the period. Public Sector Pension Investment Board grew its holdings in Cisco Systems by 12.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock valued at $9,336,000 after buying an additional 19,800 shares in the last quarter. Tybourne Capital Management HK Ltd. bought a new stake in shares of Cisco Systems in the third quarter worth about $744,000. Finally, Providence Capital Advisors LLC boosted its position in shares of Cisco Systems by 0.3% during the 3rd quarter. Providence Capital Advisors LLC now owns 174,153 shares of the network equipment provider’s stock valued at $9,268,000 after acquiring an additional 468 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

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.