Cisco Systems (NASDAQ:CSCO) PT Raised to $60.00 at Evercore ISI

Cisco Systems (NASDAQ:CSCO) had its price objective hoisted by equities research analysts at Evercore ISI from $55.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the network equipment provider’s stock. Evercore ISI’s price objective points to a potential upside of 16.64% from the company’s previous close.

CSCO has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.11.

Cisco Systems Trading Up 1.7 %

CSCO stock opened at $51.44 on Friday. Cisco Systems has a 52 week low of $44.50 and a 52 week high of $56.05. The company has a market cap of $207.24 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $48.43 and a 200-day simple moving average of $48.03.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the business posted $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems will post 2.9 EPS for the current year.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cisco Systems

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $25,000. Quarry LP grew its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Retirement Group LLC increased its stake in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $36,000. Finally, Tidemark LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $41,000. 73.33% 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 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.