Cisco Systems (CSCO) PT Raised to $50.00 at Royal Bank of Canada

Cisco Systems (NASDAQ:CSCO) had its target price boosted by research analysts at Royal Bank of Canada to $50.00 in a report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the network equipment provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 18.79% from the company’s previous close.

Several other analysts also recently issued reports on CSCO. BMO Capital Markets upped their price target on shares of Cisco Systems to $43.00 and gave the company a “market perform” rating in a report on Thursday. Barclays upped their price target on shares of Cisco Systems to $50.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Co reaffirmed a “positive” rating and issued a $52.00 price target (up previously from $47.00) on shares of Cisco Systems in a report on Thursday. KeyCorp set a $49.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup upped their price target on shares of Cisco Systems from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.82.

Shares of Cisco Systems (NASDAQ:CSCO) opened at $42.09 on Thursday. The company has a market cap of $203,825.53, a PE ratio of 21.81, a P/E/G ratio of 3.71 and a beta of 1.23. Cisco Systems has a fifty-two week low of $30.36 and a fifty-two week high of $42.98. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. During the same period in the prior year, the firm earned $0.57 EPS. analysts forecast that Cisco Systems will post 2.23 EPS for the current year.

In other Cisco Systems news, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The disclosure for this sale can be found here. Insiders have sold 348,643 shares of company stock valued at $12,892,271 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after purchasing an additional 13,927,416 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Cisco Systems by 91.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after purchasing an additional 9,292,187 shares during the period. Stifel Financial Corp boosted its stake in shares of Cisco Systems by 6,109.5% in the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after purchasing an additional 8,016,561 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Institutional investors own 75.42% of the company’s stock.

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About Cisco Systems

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).

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