Cisco Systems, Inc. (CSCO) PT Set at $33.00 by KeyCorp

Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a $33.00 target price by equities researchers at KeyCorp in a report released on Wednesday. The brokerage currently has a “buy” rating on the network equipment provider’s stock. KeyCorp’s price objective would indicate a potential downside of 1.76% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Thursday. Credit Suisse Group reissued a “hold” rating and issued a $35.00 target price on shares of Cisco Systems in a research note on Friday, October 6th. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research note on Friday, October 6th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 target price on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $35.30.

Shares of Cisco Systems (NASDAQ CSCO) traded down 1.04% during trading on Wednesday, reaching $33.24. The company’s stock had a trading volume of 9,272,268 shares. Cisco Systems has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $164.60 billion, a P/E ratio of 17.49 and a beta of 1.21. The stock’s 50 day moving average is $32.63 and its 200 day moving average is $32.35.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems will post $2.43 EPS for the current fiscal year.

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In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 over the last three months. 0.11% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barnett & Company Inc. raised its position in Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC raised its position in Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems during the 2nd quarter valued at $104,000. Grove Bank & Trust raised its position in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 350 shares in the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Company Profile

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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