Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a note issued to investors on Wednesday. They presently have a $39.00 target price on the network equipment provider’s stock. Cowen and Company’s price objective would indicate a potential upside of 20.59% from the company’s current price.

A number of other equities analysts have also commented on CSCO. Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Barclays PLC reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target for the company. in a report on Wednesday, April 26th. Finally, Credit Suisse Group raised Cisco Systems from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Fourteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.31.

Cisco Systems (CSCO) traded up 0.78% during mid-day trading on Wednesday, hitting $32.34. The stock had a trading volume of 29,040,332 shares. The firm’s 50-day moving average is $31.53 and its 200 day moving average is $32.57. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The company has a market cap of $161.70 billion, a price-to-earnings ratio of 16.42 and a beta of 1.24. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Traders bought 24,568 put options on the company. This is an increase of 223% compared to the typical volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Cisco Systems will post $2.38 EPS for the current fiscal year.

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In other news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred on 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 directly owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,179 shares of company stock worth $12,503,407. Insiders own 0.11% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Cisco Systems during the first quarter worth approximately $215,000. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Hefty Wealth Partners boosted its stake in shares of Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares in the last quarter. Syntal Capital Partners LLC bought a new stake in shares of Cisco Systems during the first quarter worth approximately $257,000. Finally, City Holding Co. boosted its stake in shares of Cisco Systems by 0.4% in the first quarter. City Holding Co. now owns 87,638 shares of the network equipment provider’s stock worth $2,961,000 after buying an additional 365 shares in the last quarter. 75.28% of the stock is currently owned by hedge funds and other institutional investors.

About Cisco Systems

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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