Cisco Systems (NASDAQ:CSCO) Earns “Market Perform” Rating from William Blair

Cisco Systems (NASDAQ:CSCO)‘s stock had its “market perform” rating reissued by William Blair in a research report issued to clients and investors on Thursday, RTT News reports.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $52.00 in a research note on Wednesday, January 8th. Edward Jones raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. BidaskClub raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Thursday. Raymond James lowered their target price on shares of Cisco Systems from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Piper Jaffray Companies downgraded shares of Cisco Systems from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $51.00 in a research note on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.50.

CSCO opened at $49.93 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The company has a market cap of $207.32 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The firm has a 50 day simple moving average of $47.92 and a 200 day simple moving average of $47.96. Cisco Systems has a fifty-two week low of $43.40 and a fifty-two week high of $58.26.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.98 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. Cisco Systems’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. As a group, analysts expect that Cisco Systems will post 2.94 EPS for the current year.

In other news, CEO Charles Robbins sold 208,084 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $44.83, for a total transaction of $9,328,405.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Irving Tan sold 10,733 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $480,945.73. Following the sale, the executive vice president now directly owns 172,199 shares of the company’s stock, valued at approximately $7,716,237.19. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock valued at $17,474,321 in the last three months. 0.03% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. First Command Financial Services Inc. increased its stake in shares of Cisco Systems by 7.9% in the third quarter. First Command Financial Services Inc. now owns 17,046 shares of the network equipment provider’s stock valued at $842,000 after purchasing an additional 1,242 shares during the period. DNB Asset Management AS increased its stake in shares of Cisco Systems by 2.8% in the third quarter. DNB Asset Management AS now owns 615,752 shares of the network equipment provider’s stock valued at $30,424,000 after purchasing an additional 16,759 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Cisco Systems by 5.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 515,876 shares of the network equipment provider’s stock valued at $25,489,000 after purchasing an additional 25,919 shares during the period. Harwood Advisory Group LLC increased its stake in shares of Cisco Systems by 2.1% in the third quarter. Harwood Advisory Group LLC now owns 55,635 shares of the network equipment provider’s stock valued at $2,749,000 after purchasing an additional 1,139 shares during the period. Finally, Jolley Asset Management LLC increased its stake in shares of Cisco Systems by 0.3% in the third quarter. Jolley Asset Management LLC now owns 98,155 shares of the network equipment provider’s stock valued at $4,850,000 after purchasing an additional 258 shares during the period. 72.57% of the stock is owned by 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 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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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