Piper Sandler Lowers Cisco Systems (NASDAQ:CSCO) Price Target to $60.00

Cisco Systems (NASDAQ:CSCO - Get Free Report) had its price target decreased by Piper Sandler from $72.00 to $60.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the network equipment provider's stock. Piper Sandler's price target indicates a potential upside of 4.66% from the company's current price.

A number of other brokerages have also recently weighed in on CSCO. The Goldman Sachs Group increased their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and increased their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $66.00.

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Cisco Systems Trading Up 1.3 %

CSCO stock traded up $0.74 during midday trading on Tuesday, reaching $57.33. 23,031,744 shares of the company's stock traded hands, compared to its average volume of 20,100,346. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The business has a 50-day moving average price of $61.30 and a two-hundred day moving average price of $59.01. The company has a market capitalization of $228.08 billion, a P/E ratio of 25.04, a PEG ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities research analysts forecast that Cisco Systems will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at approximately $30,000. 73.33% of the stock is currently 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.