Cisco Systems (NASDAQ:CSCO) PT Raised to $78.00 at Tigress Financial

Cisco Systems (NASDAQ:CSCO - Get Free Report) had its price target boosted by investment analysts at Tigress Financial from $76.00 to $78.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the network equipment provider's stock. Tigress Financial's target price suggests a potential upside of 43.73% from the stock's current price.

Several other equities research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $56.21.

Cisco Systems Trading Up 0.0 %

Shares of CSCO traded up $0.02 during trading hours on Monday, hitting $54.27. The company had a trading volume of 11,428,597 shares, compared to its average volume of 19,122,215. The stock's 50 day moving average price is $50.14 and its 200 day moving average price is $48.39. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $54.58. The firm has a market cap of $218.64 billion, a P/E ratio of 18.26, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Cisco Systems's revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts predict that Cisco Systems will post 2.9 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. 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 valued at $3,509,049 over the last ninety days. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter worth approximately $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC lifted its stake in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $36,000. 73.33% of the stock is currently 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 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.