Royal Bank Of Canada Increases Cisco Systems (NASDAQ:CSCO) Price Target to $40.00

Cisco Systems (NASDAQ:CSCO) had its price objective lifted by Royal Bank Of Canada to $40.00 in a research report sent to investors on Thursday, November 16th, The Fly reports. They currently have an outperform rating on the network equipment provider’s stock.

CSCO has been the topic of several other reports. Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $33.18 target price on the stock. in a research note on Wednesday, August 30th. Credit Suisse Group reiterated an outperform rating on shares of Cisco Systems in a research note on Thursday, August 31st. Oppenheimer reiterated a buy rating and set a $36.00 price target on shares of Cisco Systems in a research note on Friday, October 20th. Robert W. Baird reiterated a buy rating and set a $38.00 price target on shares of Cisco Systems in a research note on Monday, September 11th. Finally, Wells Fargo & Company reissued an outperform rating and issued a $42.00 price objective on shares of Cisco Systems in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of Buy and an average target price of $36.80.

Shares of Cisco Systems (NASDAQ:CSCO) opened at $37.72 on Thursday. Cisco Systems has a 1 year low of $29.24 and a 1 year high of $38.03. The firm has a market capitalization of $185,880.19, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.19. 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, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the business posted $0.61 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. equities research analysts predict that Cisco Systems will post 2.21 earnings per share for the current year.

In other news, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at $3,254,324.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 552,694 shares in the company, valued at $17,719,369.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 493,530 shares of company stock worth $16,993,798. Insiders own 0.05% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CSCO. Hamlin Capital Management LLC grew its holdings in shares of Cisco Systems by 9.5% during the first quarter. Hamlin Capital Management LLC now owns 2,476,478 shares of the network equipment provider’s stock worth $83,705,000 after buying an additional 214,475 shares during the last quarter. Smith Chas P & Associates PA Cpas raised its position in shares of Cisco Systems by 2.3% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 600,236 shares of the network equipment provider’s stock worth $20,288,000 after purchasing an additional 13,643 shares during the last quarter. Argyle Capital Management Inc. raised its position in shares of Cisco Systems by 0.6% during the 1st quarter. Argyle Capital Management Inc. now owns 85,520 shares of the network equipment provider’s stock worth $2,891,000 after purchasing an additional 500 shares during the last quarter. Greenwich Wealth Management LLC raised its position in shares of Cisco Systems by 64.9% during the 1st quarter. Greenwich Wealth Management LLC now owns 450,584 shares of the network equipment provider’s stock worth $15,230,000 after purchasing an additional 177,314 shares during the last quarter. Finally, Hudock Capital Group LLC grew its stake in Cisco Systems by 22.9% in the 1st quarter. Hudock Capital Group LLC now owns 45,940 shares of the network equipment provider’s stock worth $1,552,000 after acquiring an additional 8,567 shares during the period. Institutional investors own 75.79% of the company’s stock.

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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).

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