Vetr downgraded shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a buy rating to a hold rating in a research report released on Wednesday morning. They currently have $33.18 target price on the network equipment provider’s stock.

CSCO has been the subject of a number of other research reports. Robert W. Baird reiterated a buy rating on shares of Cisco Systems in a report on Thursday, May 18th. Drexel Hamilton reiterated a buy rating and issued a $40.00 target price on shares of Cisco Systems in a report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $36.00 target price on shares of Cisco Systems in a report on Monday, June 26th. Piper Jaffray Companies reiterated a buy rating and issued a $36.00 target price on shares of Cisco Systems in a report on Thursday, August 17th. Finally, Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a hold rating in a report on Thursday, August 17th. Fifteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $35.47.

Shares of Cisco Systems (NASDAQ CSCO) opened at 32.30 on Wednesday. The firm has a 50-day moving average price of $31.59 and a 200 day moving average price of $32.57. The company has a market cap of $161.27 billion, a P/E ratio of 17.00 and a beta of 1.19. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts predict that Cisco Systems will post $2.43 earnings per share for the current year.

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In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 350,642 shares of company stock worth $10,973,081. Company insiders own 0.11% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Southeast Asset Advisors Inc. increased its stake in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares during the last quarter. Opes Advisors Inc increased its stake in shares of Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after buying an additional 44 shares during the last quarter. Leisure Capital Management increased its stake in shares of Cisco Systems by 0.6% in the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after buying an additional 48 shares during the last quarter. Ronald Blue & Co. LLC increased its stake in shares of Cisco Systems by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after buying an additional 57 shares during the last quarter. Finally, Banced Corp increased its stake in shares of Cisco Systems by 0.4% in the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 74.68% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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