KeyCorp Upgrades Cisco Systems (NASDAQ:CSCO) to Strong-Buy

Cisco Systems (NASDAQ:CSCO) was upgraded by research analysts at KeyCorp to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

CSCO has been the subject of several other research reports. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $68.95 on Wednesday. The company has a market capitalization of $273.04 billion, a PE ratio of 28.14, a PEG ratio of 4.08 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $62.31 and its 200-day moving average price is $61.02. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $69.16.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems will post 3.04 EPS for the current year.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. 0.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 2,474 shares during the last quarter. Sabal Trust CO boosted its stake in shares of Cisco Systems by 7.9% during the fourth quarter. Sabal Trust CO now owns 9,819 shares of the network equipment provider’s stock valued at $581,000 after purchasing an additional 716 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $169,000. Finally, Nwam LLC boosted its position in Cisco Systems by 3.3% during the 4th quarter. Nwam LLC now owns 19,176 shares of the network equipment provider’s stock valued at $1,135,000 after buying an additional 606 shares during the period. 73.33% of the stock is currently owned by institutional investors.

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.