Cisco Systems (NASDAQ:CSCO) Upgraded by Wall Street Zen to Buy Rating

Cisco Systems (NASDAQ:CSCOGet Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Melius Research upped their price target on Cisco Systems from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, Erste Group Bank cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

Read Our Latest Report on Cisco Systems

Cisco Systems Price Performance

Shares of CSCO stock opened at $79.46 on Friday. Cisco Systems has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The firm has a market capitalization of $313.86 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.95 and a beta of 0.87. The stock’s 50-day simple moving average is $77.82 and its 200-day simple moving average is $73.71.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. As a group, equities analysts forecast that Cisco Systems will post 3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares in the company, valued at approximately $2,239,456.18. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 75,677 shares of company stock worth $5,811,211. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently modified their holdings of CSCO. Avantax Advisory Services Inc. boosted its holdings in shares of Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after purchasing an additional 4,525 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Cisco Systems by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after purchasing an additional 205,043 shares in the last quarter. Greystone Financial Group LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter worth $8,563,000. Jones Financial Companies Lllp grew its position in shares of Cisco Systems by 8.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after buying an additional 56,057 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in shares of Cisco Systems by 213.8% during the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after buying an additional 13,966 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

More Cisco Systems News

Here are the key news stories impacting Cisco Systems this week:

Cisco Systems Company Profile

(Get Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

Further Reading

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.