Vetr lowered shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a sell rating in a research note released on Wednesday. The firm currently has $35.93 price objective on the network equipment provider’s stock.

CSCO has been the subject of a number of other reports. Credit Suisse Group reiterated an outperform rating on shares of Cisco Systems in a research report on Thursday, August 31st. Oppenheimer reiterated a buy rating and set a $36.00 target price on shares of Cisco Systems in a research report on Friday, October 20th. Robert W. Baird reiterated a buy rating and set a $38.00 target price on shares of Cisco Systems in a research report on Monday, September 11th. Wells Fargo & Company reiterated an outperform rating and set a $42.00 target price on shares of Cisco Systems in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded Cisco Systems from a hold rating to a buy rating in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the stock. Cisco Systems presently has an average rating of Buy and a consensus target price of $36.80.

Cisco Systems (NASDAQ CSCO) traded up $0.30 during mid-day trading on Wednesday, reaching $37.60. The company’s stock had a trading volume of 26,915,542 shares, compared to its average volume of 21,723,894. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $38.03. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $184,397.09, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.37 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities analysts predict that Cisco Systems will post 2.21 EPS for the current fiscal year.

In other Cisco Systems 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 owns 89,184 shares in the company, valued at $3,254,324.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares in the company, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 493,530 shares of company stock worth $16,993,798. Insiders own 0.05% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Southeast Asset Advisors Inc. boosted its position in Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after purchasing an additional 44 shares in the last quarter. Opes Advisors Inc boosted its position in Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 44 shares in the last quarter. Leisure Capital Management boosted its position in Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after purchasing an additional 48 shares in the last quarter. Ronald Blue & Co. LLC boosted its position in Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after purchasing an additional 57 shares in the last quarter. Finally, Banced Corp boosted its holdings in Cisco Systems by 0.4% in the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 75.66% 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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